WHat is the different between available balance and current balance?

What the difference between current principal balance and beginning principal balance?

• Can someone please tell me what the difference is between current principal balance and beginning principal balance? I am in the middle of a massive nightmare with my mortgage company. They are located in India and have told me I can't speak to anyone in America because they have no American representatives. They have continued to charge me late fees when I haven't been late, promising to remove them later and not. They even forced an escrow on me by paying my property taxes AFTER I had already paid them and almost a month before they were due. Then they told me I have to pay them money towards this escrow until they are able to get the money back from my county. And when I told them I couldn't afford to do that. They started tacking on late fees every month even though I was paying more than what I owed because I wasn't paying the additional $288 a month they wanted to pay for this escrow they paid that I never asked them to pay and what they shouldn't have paid. I am trying to create a detailed spreadsheet showing my payments to show how much they have overcharged me and to also get my credit report fixed. On the statements I get the first amount listed is the "current principal balance" then later in the statement there is a "beginning principal balance". There is only a $.02 difference between them so I don't really know what they are and why they are different. If one equaled a month's payment then I would assume one was the balance before my payment and the other after, but they don't. I don't even want to call my mortgage company because they literally have never been able to help me and just thinking about calling me is upsetting me. I never get anyone that can understand what I am saying and vice versa. Or if I get someone who speaks decent English, they only read from a script and can't answer my questions. I am praying someone can please help me.

• Answer:

  The initial principle balance at the BEGINNING of the period covered by the statement. The current principle balance is the unpaid balance TODAY. EVERYTHING you say about taxes an escrow it FALSE. You mortgage contract SPECIFICALLY required real estate taxes and insurance be paid through escrow and the $288 is PART of your monthly payment. If you have only been paying the principle and interest amount, you ARE late and the reason your principle is not going down is that ALL payments are first applied to the LEGITIMATE late fees, then to the escrow account, then to interest, and to principle LAST. There is NOTHING LEFT for principle by the time everything else is paid. You need to take your contract to a real estate attorney so they can tell you WHY you are totally wrong. The reason the mortgage company can't seem to help is that you REFUSE to hear the facts.