because banks and other companies are stupid and inept.
See... on 10/30 I put the old mortgage check in the mail. Days passed, the check wasn't cashed. More days passed.. the check wasn't cashed. On 11/10, I called the mortgage company and asked: what's up? They said (as they usually do): we don't know. We haven't received it. Sigh.. since on 11/15 the payment is considered late and it's now been 10 business days since the original check was mailed (and it only had to go 2 hours from my home), one can assume it's lost, right? I should send another check, right? Being late with a mortgage payment doesn't seem like a good idea, right?
So on Friday I sent off another check. Yesterday: they cashed the first check. And since they'd also received the second check, they went right ahead and cashed that, too. Yikes!
But you know what I'm going to do? I'm going to transfer money from my emergency savings (yes, it's true I'm one of those people you read about who have 6 month salary in emergency savings). My point: get thyself some savings - try it! Life is so much less stressful when you have a cushion like that.
Comments (1)
This happened to us a couple of months ago too. We called and did a phone transfer on the 11th. On the 13th, they cashed the original check (even though they promised they wouldn't).
We ended up calling them back and raising hell until they backed out the phone transfer.
Now, I just have USAA (our bank) pay them electronically on the 1st. That seems to be working ok so far. There's no way I'd authorize them to automatically take the money out, though. That's waaaay too risky.
Posted by Jason | November 15, 2006 7:30 AM
Posted on November 15, 2006 07:30