You can pay online through your account portal, set up automatic ACH drafts, use CashPay at a Zego/PayLease retail location ($4 fee), or pay by phone through Zego at 1-866-729-5327 (Option 1). It pays to pay on time with E-Pay — build your credit score with on-time, online payments and save the hassle of mailing money orders. Note: you cannot use credit cards to pay your mortgage.
Submit an ACH Cancellation Request Form at least 15 days before your scheduled ACH debit date.
Payments can change due to property tax and insurance changes, Adjustable-Rate Mortgages (ARMs), interest-only loan terms, escrow shortages, or PMI cancellation.
10 days past due: a 5% late fee may apply (varies by contract). 20 days: breach of Deed of Trust; lender may initiate foreclosure. 31 days: default reported to credit bureaus. 45 days: Notice of Default with Intent to Accelerate Foreclosure. 65–75 days: legal process engages an attorney with additional fees.
One-time: mark "For Principal" on your check, or notify August REI for online payments. Monthly: call August REI to flag your account so extra amounts are applied to principal.
"Other" refers to servicing fees, "Fees" refers to late fees, and "Total Fees & Charges" combines legal, servicing, and late fees. A setup fee covers processing your loan documents at closing, and unpaid interest is interest accrued between closing and your first payment. Partial payments are held in "Reserve" until they total a full payment.
August REI reports to Equifax monthly. A valid SSN and date of birth are required. Disputes can be filed via Equifax at equifax.com/personal/credit-report-services/credit-dispute/.
1) Submit a Payoff Request Form. 2) Fees: $50 payoff + $140 release of lien. 3) Follow the payoff letter instructions. 4) Submit final payment by the payoff date. 5) The servicer provides final statements and initiates the Release of Lien. 6) The County Recorder processes it (2–8 weeks). 7) Escrow refunds are sent (about 4 weeks). If no release appears after 90 days, contact the County Recorder or Payoffs@AugustREI.com.
Escrow accounts are non-interest-bearing accounts used for property taxes and insurance. An Annual Account Analysis is performed in April/May.
Apply for the Texas Homestead Exemption (up to a 25% reduction). Find your county appraisal district at taad.org/resources/texas-cad-websites/.
Maintain coverage with the proper mortgagee clause on your policy. Notify August REI at least 6 weeks before your renewal so escrow disbursements are handled correctly.
Refinancing is not handled by August REI. Loan assumption requires a legal modification.
A mortgage verification can be requested for a $35 fee per request.
1098 tax forms are mailed by January 31 and are also available via the online portal.
Contact the Texas Department of Savings and Mortgage Lending at 2601 North Lamar, Suite 201, Austin, TX 78705, toll-free (877) 276-5550, or visit www.sml.texas.gov.