Invalid Escrow Account

[teenie1975]

My state: New York

My mortgage company got the impression that I did not have homeowner's insurance on our house sometime last year. I received a notice telling me that an escrow account had been opened and charged something like $650. I immediately called my mortgage company and informed them that I did indeed have homeowner's insurance, and of course I had to fax them the proof.

Unfortunately, that was only the beginning. I ended up faxing them proof 2 times, my insurance agent once as well as snail mailing them the information, and now I've had a lawyer inform them (both via phone and fax) that there has been continuous coverage.

However, they are still charging me, and now the amount is up to $1300, with what appear to be plans to add an additional 300-something in May 2006 (I really can't understand the escrow statement I received). What can I do? I've left another paniced message with my lawyer, but he was supposed to fix this already-it started way back in May 2005. Is there anything I can do?

[pojo2]

Originally Posted by teenie1975

My state: New York

(I really can't understand the escrow statement I received). What can I do?

File a complaint with the state agency that deals with the Banking/Lending Companies.

If you do not understand the escrow statement then how do you know what they are doing?

Has any of this correspondence been sent out Return Recipt Requested so you have a paper trail? Have you sent a statement from you Agent saying there was not 1 second of lapse in the Homeowners' Policy?

Does the fax cost you to send. long distance? If not fax them every time you think about it.

Who is the Mortgage Co?

[teenie1975]

I only meant that I don't understand exactly why they think they can add charges to us, and where they are getting their dollar amounts from. Back when they started this, the amount for their insurance was a little over 600, but this coming May, according to their schedule, they anticipate adding another $300-something to our escrow account. It is not clear what that $300 is for-I only assume it's more insurance charges.

I have not sent anything receipt requested except our actual mortgage payments (prior to online banking). They used to charge us late fees each and every month, no matter how early we sent in our payment, stating it could take 10-20 days to credit our account. I tried it once and sent a payment 25 days early and guess what? Still received late by them. A lawyer back then told me to send our payments receipt requested.

I was not the one who faxed the mortgage company-it was 1st 2-3 times, my insurance agent, and 4th time my lawyer's paralegal. Both of those offices do have records of how many times they've corresponded with my bank on my behalf.

The mortgage company is EMC-and incidently, I did find another person on here who complained of the same bank (located in the same state of TX) charging him for property taxes that he had actually paid.

Since EMC is in Texas, which state should I complain to? Mine (NY) or where my bank is?

Thank you for your help.

[Blacky1]

This will need to be done through the Office of the Comptroller of Currency. Here's the link to file a formal complaint. [url]http://www.occ.gov/customer.htm#Filing%20a%20Formal%20Complaint[/url]