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banking escrow account management

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M

mortgagedoormat

Guest
I would like to know where I can find out what is legal management for a mortgage company & escrow accounts in Indiana. Like, is there a legal guide line for what they can collect and how they base that amount? Does it have to be reconsiled yearly or can they just keep socking money away? I have looked thru banking policies & cant seem to get anywhere. My mortgage company just decided after 10 years of the loan to start taking an extra 10,000.00 a year for a just in case escrow account. I fought it because they did not even want to pay the taxes out of it. We finally got that part handled so they pay the property taxes out of it. The problem is, that is more than twice what the taxes are in the first place. All it did was make my payment unreasonable. Anyone have some help here? Thanks
 



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