I thought I posted my final MiLend review. I really did. The lawyer came to our house, we signed the appropriate papers and we were finished... or were we?
Last Friday I got an email... oopsie doodle, our old lender paid the taxes the day before they received our payoff, which put our escrow account over $300 into the negative because we were told to skip our October payment, when we would have put another $500 into the account.
Meanwhile, the firm handing the disbursement of money also paid our taxes. So they wound up shorting the old mortgage provider about $300. No problem, the firm (MiLend's firm) called me up and asked me to shoot over a personal check to cover the difference. Um.. what? Sure, let me just pull $300 I wasn't counting on spending out of my butt right before the holidays. Fantastic planning.
What if I don't? Well, then our loan isn't actually "paid off" and we'll accrue a daily interest on the $300 that we can pay at the end of the month on the next statement date.
I'll tell you - the communication between MiLend, their partners and the rest of the world is atrocious.
Even when we THOUGHT we were done. When we THOUGHT we didn't have to give any more money, sign any more paperwork or make any more calls, we weren't.
Really - if you're considering doing business with them and you have a budget, value your sanity or just don't like getting the run-around, seriously reconsider what you're about to do. MiLend is NOT an easy lender to work with. I'm dreading what it will be like to make mortgage payments to them.
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