2007-07-07 letter to AMC

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2007-07-07 letter to AMC .. (2007-07-25 from AMC) .. 2007-08-09 reply to AMC


Date: 2007-07-07
To: AMC Mortgage Services
Re: Your letter of 2007-06-27 (copy enclosed)

I should very much like to see an accounting of how you arrived at the figure of $70.73 still due on loan 0101231264. The online accounting (also included) showed an "escrow balance" of $0.00 on 7/2, and I believe this to be the correct balance.

For legal purposes: This letter is in dispute of the debt which you claim I owe.

Thank you,



Phone call 2007-07-17

AMC called repeatedly before and after this letter was sent, but never left a message until 2007-07-17 (see htyp:800-430-5262). I mentioned having sent this letter, but it was not until she put me on hold for about 5 minutes in order to look up the figures (how much was owed and how much had actually been paid off) that I had time to find it.

When she came back off hold, she gave me the basic figures:

  • $78,860.53 was paid (matches the figure in the documents from Mortgage Co. #2)
  • $78.931.26 was due
  • $70.73 unpaid balance still due (math agrees)

At that point, I said we needed this accounting in writing, for our records. She said that Sandy would need to call and request this. I said that we had already sent in a written request, signed by Sandy (i.e. this letter), on July 7... at which point she admitted having received it on (I think) July 12, and that they would be sending out the requested accounting shortly.

She also said that they went ahead and "paid it off for you" because it was "less than $100", in order to avoid our incurring any additional interest fees on the $70.73; this is something they normally do, according to her.

Remaining unknowns: will they explain the math behind the "due" figure, or just assume that we will take their word for it? Should we take their word for it? How would we go about trying to calculate what the amount due should have been? Do we even have enough information to do so? (Tentatively: yes, expecially if you start from AMC's final statement -- see below) How could the amount due have changed by only $70.73, from the point when the new mortgage company got the total to the point when they paid it?

Big inconsistency: The last statement I can find, dated 2007-05-08 and due 7/1, shows a "Principal Balance" of $78.341.55. AMC's online records show that the $78,860.53 was counted as an on-time payment for that statement. Going by this, AMC should owe us a little over $500. The discrepancy can't be due to any kind of early payoff penalty because we were told explicitly when we first got the mortgage that there were no such penalties (it remains to be seen if they managed to slip one into the contract anyway, so it would be our word against theirs that we were promised this).

2007-07-25 letter from AMC

This is the main part of the letter AMC sent (the only part showing any breakdown of numbers):

2007-07-25 AMC letter showing numbers.detail.7clr.png

See entire letter for full context

See 2007-08-09 reply to AMC for our reply