Frustrating situation with my home loan
I’m in a weird spot with my mortgage. I’ve paid off almost everything, but there’s just one dollar left. The strange thing is, my bank won’t let me pay it off!
Has anyone else run into this problem? It seems silly to keep a mortgage open for such a tiny amount. I’m not sure what to do next.
I’ve tried calling the bank, but they keep giving me the runaround. They say something about minimum payment requirements, but it doesn’t make sense for just $1.
Any advice on how to handle this? Should I just forget about it, or is there a way to force them to accept my final payment? I really want to be done with this loan once and for all.
That’s quite a pickle you’re in! Have you considered making a larger payment to cover that dollar plus a bit extra? Maybe the bank has a minimum processing amount? Or perhaps there’s a hidden fee they’re not mentioning? Curious to hear if others have faced similar situations!
I’ve encountered a similar situation before. It’s likely due to the bank’s internal policies or system limitations. One workaround I found effective was to overpay slightly. Try sending $5 or $10 instead of just $1. This usually satisfies their minimum payment requirements and should close out the loan. If that doesn’t work, escalate to a supervisor or the bank’s mortgage department. They might have the authority to manually process the final dollar. As a last resort, consider refinancing with another lender to pay off the remaining balance. It’s a hassle, but it could finally put this issue to rest.