2007-08-09 reply to AMC

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

Letter

Date: 2007-08-09

To: AMC Mortgage Services

Re: Your letter of 2007-07-20 (copy enclosed)

Thank you for your letter, which I received on July 25, describing how you arrived at the figure of $70.73 still due on loan 0101231264.

We had previously established (via phone) that the $70.73 resulted from subtracting the amount we actually paid ($78,860.53) from the amount you claim was due ($78,931.26); the matter in dispute, then, is the calculation of the claimed amount due ($78.931.26).

Although the letter does not explain this explicitly, I gather from the letter that $78.931.26 is the "unpaid principal balance" ($78,341.55) plus interest of $589.71 for the time period of June 1, 2007 to June 26, 2007.

What I still do not understand is this:

• The "unpaid principal balance" amount ($78,341.55) is from the statement dated 2007-may-08 and due July 1.
• Presumably, then, that unpaid principal was effective July 1, the due date of the statement.
• You received the $78,860.53 payoff on that account on June 26, according to your payment portal web site.
• This was before the effective date of the $78,341.55 figure

It seems to me, then, that you owe me the difference between the principal of $78,341.55 effective July 1 and the actual payoff of $78,860.53 which you received on June 26, i.e. $518.98.

Another way to figure our current standing would be to take the "unpaid principal balance" for the statement due June 1, $78,386.39, add in the amount of interest you quote for June 1 to June 26 ($589.71), and then subtract the amount I paid towards that bill on May 7 ($697.41) – resulting in a June 26 balance of $78,278.69, which would mean that on that date I overpaid by (and therefore you owe me) $581.84. The difference between these two figures ($581.84 and $518.98) is presumably accounted for by $62.86 in additional interest that I would have incurred had I paid on July 1 instead of 4 days earlier (June 30).

I will be happy to accept a refund for either of these amounts.

I will assume that you are in agreement with my calculations unless I receive a letter from you indicating otherwise.

Also, please instruct your representatives not to call me any more. They have been calling repeatedly since the date of our previous phone conversation (July 17), starting on July 19 which was before you had even mailed the accounting you agreed, in that same phone conversation, to send (and which I received on the 25th). They usually do not leave messages, and when they do leave a message they do not explain why I need to call them back. I do not return such calls, and I do not feel that it is productive to have any further discussions on this matter except in writing.

Thank you,

encl:

• copy of AMC statement due 2007-jul-01
• copy of letter from AMC, dated 2007-jul-20
• copy of payment record from AMC web site, printed 2007-jul-17