R
rockster
Guest
escrow mishandling!
i bought my nc home in sept 2000. the first year, my bank paid the county $3,800 in property taxes that actually totaled $630. The following year, the bank got the amount right - $644 (after revaluation by the county) - but paid the bill twice. while the bank "investigates" they have increased my escrow payment to more than double the amount needed to pay my taxes and hazzard insurance.
My property tax payments should have only been $1288.00 for the two year period but the bank has overpaid the county by $3790 and is showing me with a negative escrow balance of $4,134. and have increased my payments to them by an extra $200.00 per month to apparently make up for their mistake.
The first year mistake of $3800. has not been resolved from the county as they have not returned the excess amount of taxes.
The next year they made the correct payment of $644. but paid it twice.
I am concerned that they are increasing my escrow to go after me
if the county does not returned the excess taxes paid. It was an obvious mistake that they admit and that I would have surely noticed if I was making the payment. They admit their mistake over the phone but use the term to describe what they are now doing as "investigate."
I want to stop automatic withdraw from my bank account and pay
the principle and interest to them and handle the hazard insurance and pay tax payments myself. I do not feel that I can trust them to handle my account and I can't afford to make these excessive payments to make up for their errors in management of my funds. They say I can't do that. But I have to stop this overpaying the county tax assessor because I don't know if the county tax people will ever refund the bank for their overpayment. And can I be responsible for their mishandling, it sure appears that way in increasing my escrow..
Latest update: I have contacted closing attorney? He has clearly stated that this is not my problem. I stated to him that they are making me pay for it with increased escrow payments. He asked if I could get a hold of anyone who could do something. I told him no and he said he would try to clear this matter up and get me out of this escrow agreement since I paid a 20% down at closing. He commented that he has not known anyone with this problem. I have copies from County Collector's Office and the Attorney's Office has spoken with them. The year of the overpayment of $3800 was not paid to the county and that all payments of property tax was taken care of at closing when I bought the house. The lender has clearly made an error in attaching my account and increasing my minus escrow for their error. I sure hope my lawyer gets through and is able to clear this mess up.
This is a well known banker nationwide, and they sure can shut you out, and play a miserable game. How can I be responsible for a lender that can't read, add or substract, or check what they are doing? My fear is that they are going to play this investigate game forever, even if it is their own internal problem. And God knows what they will do next. I guess I will have to really find out how the consumer is protected from such mishandling.
Latest Update:
i bought my nc home in sept 2000. the first year, my bank paid the county $3,800 in property taxes that actually totaled $630. The following year, the bank got the amount right - $644 (after revaluation by the county) - but paid the bill twice. while the bank "investigates" they have increased my escrow payment to more than double the amount needed to pay my taxes and hazzard insurance.
My property tax payments should have only been $1288.00 for the two year period but the bank has overpaid the county by $3790 and is showing me with a negative escrow balance of $4,134. and have increased my payments to them by an extra $200.00 per month to apparently make up for their mistake.
The first year mistake of $3800. has not been resolved from the county as they have not returned the excess amount of taxes.
The next year they made the correct payment of $644. but paid it twice.
I am concerned that they are increasing my escrow to go after me
if the county does not returned the excess taxes paid. It was an obvious mistake that they admit and that I would have surely noticed if I was making the payment. They admit their mistake over the phone but use the term to describe what they are now doing as "investigate."
I want to stop automatic withdraw from my bank account and pay
the principle and interest to them and handle the hazard insurance and pay tax payments myself. I do not feel that I can trust them to handle my account and I can't afford to make these excessive payments to make up for their errors in management of my funds. They say I can't do that. But I have to stop this overpaying the county tax assessor because I don't know if the county tax people will ever refund the bank for their overpayment. And can I be responsible for their mishandling, it sure appears that way in increasing my escrow..
Latest update: I have contacted closing attorney? He has clearly stated that this is not my problem. I stated to him that they are making me pay for it with increased escrow payments. He asked if I could get a hold of anyone who could do something. I told him no and he said he would try to clear this matter up and get me out of this escrow agreement since I paid a 20% down at closing. He commented that he has not known anyone with this problem. I have copies from County Collector's Office and the Attorney's Office has spoken with them. The year of the overpayment of $3800 was not paid to the county and that all payments of property tax was taken care of at closing when I bought the house. The lender has clearly made an error in attaching my account and increasing my minus escrow for their error. I sure hope my lawyer gets through and is able to clear this mess up.
This is a well known banker nationwide, and they sure can shut you out, and play a miserable game. How can I be responsible for a lender that can't read, add or substract, or check what they are doing? My fear is that they are going to play this investigate game forever, even if it is their own internal problem. And God knows what they will do next. I guess I will have to really find out how the consumer is protected from such mishandling.
Latest Update:
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