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#2179080 - 05/22/18 01:58 PM HELOC statement
workerbee Offline
Member
Joined: Oct 2015
Posts: 61
Trying to find clarification, is it acceptable for heloc payment statements to have future interest charges based on balance at time of statement? In other words, servicing recently sent out statements that project interest for 2 weeks in addition to what was accumulated making payments 50% more than expected.

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#2179119 - 05/22/18 04:50 PM Re: HELOC statement workerbee
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,637
Galveston, TX
What does your HELOC contract say. How can you pre-accrue interest when you have no idea what the account balance is going to be? I think you have a serious problem.
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#2179174 - 05/22/18 07:06 PM Re: HELOC statement workerbee
workerbee Offline
Member
Joined: Oct 2015
Posts: 61
Servicing system can keep tract of any changes and next statement will be adjusted accordingly.

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