What a pain, Parma. Sorry you had to eat this one. I am assuming your refi is still gonna work though, so that's wonderful.
A few years ago, when we sold our last house, the mortgage broker we used, (Can't even speak his name without shuddering!) had me give him all the information on balances owed for the several items we were paying off with the money from the sale of our house. It was a condition of the loan for the new house. When I casually mentioned later that I was still going to make my December payments on those credit cards, he flipped out and told me not to. The title company had the balances and was cutting them checks, I needed to leave it alone and let things finish. (I am simplifying this, so don't misunderstand.) Anyway, we closed on the new and moved in in January. In November, as rates were still going down and we knew we got squeezed by this Nameless Broker, I went to the Credit Union to check on doing a refi at a better rate. To my horror, I had a collection against me from Wells Fargo. (I think I had owed maybe $300) It seems that the title company had sent the wrong amount of payment when they cut the checks, and that payment that I didn't send.....for $35 (!) had gone into collections and the new owner of our old house had not sent me stray mail that didn't forward. So my advice is to keep making your little boring payments on all your bills, no matter what financial stuff you have in the works. We got that one straightened out fast and did a great refi in a quarter of the time, very little cost, and much more straightforward way than the deal with the broker.

Red

Red, something similar happened to my mother. She was told to not make payments on things that would be paid off by a 2nd of some sort (should have been her first warning). They pulled a bait and switch, when they finally got the papers, the numbers were different from what they had originally been told and they basically took it because now they had late payments at sever places. Not a good deal.

So parma, you got credit for the payment though right? So your payoff was a little bit lower and the difference was given back to you on your HUD 1 settlement statement? Your new payment on the note probably went down a few cents but you definitely should have gotten credit for it.

The responses to your original message make it sound like you are out a mortgage payment and you should definitely not be...

Sounds like your Feb payment just went against the outstanding balance, but you'll have to make another payment in Feb?

I'm curious as to why your DH would pay a payment two months in advance? You should just be paying your Jan payment as we speak.

Our house is paid for now :-) but I had a two week float before I'd get any late payment, so I'd pay the mortgage around the 4th of the month - that gave me plenty of buffer to make sure it was posted by the 15th.

I do not like giving bill collectors my money until the last possible moment!

Positive news is you've carved off another 5 years on your payment plan. That's how we payed off our house so quickly. We originally had a 15 year mortgage, and then when the rates dropped, we refinanced and did a 10 year.

"I'm curious as to why your DH would pay a payment two months in advance? You should just be paying your Jan payment as we speak."

LOL, that makes two of us but I've given up on fighting it. Just one of his little quirks and part of the joy of being married to an anal retentive. He made this one extra early because he didn't want to mess with bills over the holiday season.

It's not like he's ever had a bad credit rating, it's just the way he is. He says it makes him sleep better. :)

Cathrugg and caroleoh are correct. We were credited the money in the new closing but will have to make an additional February payment. I just wish that BoA hadn't told us that the original closing would be much later, having said they had a huge backlog, and then, when it did close earlier, that the additional payment hadn't posted and that they would not allow it to.

We just got a statement showing that the February payment was entered the day after the first closing. The woman (DH got her name) who said that she'd take care of it, must have forgotten/ignored the situation.

With a 20% income drop, because of the recession, I'd sleep better having more in our slush fund.

I know it sounds like I'm making a mountain out of a molehill, but we moved to an area that is much more expensive than our last one. It was based on DH's promotion so he would no longer have to commute and he'd be much closer to his work, that he now manages. Being promised a big raise to counterbalance the higher cost of living, seeing it evaporate, and actually be replaced with a salary reduction, is making these high mortage payments a real squeeze (not to mention what it's done to my decorating allowance, lol).

Things could be much worse. My DD has been out of work for two years. She was a mortgage processor and we sorely missed working with her on this one.

Red, being in the financial business, yourself, that must have really ticked you off!

ok good, as long as you aren't "out" any money. (I thought your payment just poofed into nowhere!)

It's the promissory note that requires the 1st payment to be February 1st, not BOA per se. (In this case, it wouldn't matter where you banked. The closing date and right of rescission date determine the first payment date on the note.)

I am sorry this happened to you. Dealing with these big banks as opposed to the local community banks can be so discouraging. The woman your DH spoke to probably isn't the one who actually processes/intercepts payments.

Hopefully your DH won't lose too much sleep over this one; 4.625% vs. 6.375% should help him sleep like a baby. :o)

Thanks cathrugg, you sound like a pro (that didn't sound right but ykwim :) ).

We would have loved having been able to work with our local bank but they didn't hold very high hopes with our market declining so much since our house purchase.

BOA seems to own interest in the appraisal company that they used (thought that was frowned upon, lately) and they held our mortgage (old Countrywide) so they were our only shot at the refi.

Our old brokerage company didn't want to touch it, either.