So, here goes. We closed on the sale of our home on May 28, in the afternoon hours. I received notification from my realtor that all was well, and received an auto-email from Rocket on 6/02 that it was paid, and made a call to them to recover monies held in escrow, and adjust address, etc. All seemed well.
Today, open my bank account, and there’s a mortgage payment deducted. Uggh. Made a call to them, and was informed that the mortgage was showing as “current” on 6/01, and that an autopay was scheduled, and deducted. Now, the bank account I use is actually a Fidelity brokerage account (non-IRA). Been this way for 5-6 years now. I made a rather large deposit in the account on Tuesday 6/1, and that deposit was in hold (T+3) until Saturday 6/05. This week, I did more clean up of my finances, deducting bills from the account, paying off a host of small bills I had remaining. Then, this morning, I’m informed that the original “auto pay” scheduled for the 1st of every month was still processed, but Chase bank, who Rocket clears through, had it returned for NSF on that day, so they go back and try again 10 days later.
What I don’t understand is why Rocket didn’t oversee cancelling that auto pay, once the mortgage shows as paid in full? Rocket has promised, through yet another phone call this morning, to ACH the funds back to me, and the escrow dollars are being issued to be via paper check (confused why they can’t just put that straight into the bank account as well, but, whatever).
I had no issue with Rocket throughout my time with them servicing the mortgage. But, a $1300 hiccup in anyone’s bank account is noticeable, unexpected, and expensive. Further, because I use a brokerage account, I’m expecting that ACH back in to be subjected to the T+3 rules again, meaning I won’t have access to the funds until NEXT Saturday, the 19th.
Ugghhh. Thanks for reading. Nothing else can be done at this point, and it’s just going to be a lesson in shutting off or not signing up for all of these auto-pay transactions in the future.