I’ve been with my mortgage company for several years and they have consistently handled my homeowner’s insurance and property taxes via an escrow account. I have always kept up with my payments. However, I recently got an email saying there was an excess in my escrow account and I’d be getting a refund. Upon checking my escrow statement, I realized they didn’t pay my property taxes in December as usual. I checked with the tax assessor’s office, and sure enough, my taxes are unpaid and now come with hefty late fees. My escrow statement also indicates a reduction in monthly payments starting April, suggesting they might not cover my property taxes in the future. If I receive the refund check, I can cover the overdue taxes, but that leaves me covering late fees myself. Attempts to contact the mortgage company’s tax and escrow departments have been unsuccessful. Any suggestions on how to navigate this situation? I’m quite stressed about it.
Oh no, what a mess! Have you tried reaching out to the mortgage company via social media? That sometimes gets their attention faster. Maybe ask if they can cover the late fees since it was their mistake. Keep us posted – I’m curious how they handle this!
I’ve dealt with a similar situation before, and it’s definitely frustrating. Here’s what worked for me: First, send a certified letter to your mortgage company detailing the issue and requesting immediate action. This creates a paper trail. Then, file a complaint with the Consumer Financial Protection Bureau (CFPB). They’ll forward your complaint to the company, which often leads to a quicker resolution. In my case, the mortgage company covered the late fees and fixed the escrow account once the CFPB got involved. Don’t forget to keep meticulous records of all communications. If they don’t resolve it promptly, consider consulting a real estate attorney. Good luck, and don’t let them off the hook for their mistake!
Dude, that sucks! I’d be pissed too. have u tried blowing up their twitter? sometimes that gets companies movin. if not, maybe hit up the CFPB? they can light a fire under ur mortgage co’s butt. don’t let em off easy – it’s their screwup, not yours!