---

Can a mortgage company hold your escrow overage?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
lorettaacole Joined: 16 Mar 2009 Posts: 1 1.33 Dollars($)	Posted: Mon Mar 16, 2009 10:21 am    Post subject: Can a mortgage company hold your escrow overage? Like 0 Dislike 0 My son and daughter-in-law just recieved a notice from their mortgage company (Chase) that they have an overage of $3200.00 in escrow. They are behind in their payments so the bank won't release the funds. They requested that the overage be applied to their past due principle and were told that Chase wouldn't do that, but as soon as they got up to date they would mail them the check. Their delinquent amount is about $3100.00 which is less than the overage. They have them in a "catch-22" situation. Is this legal in Florida?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Mar 17, 2009 1:12 am    Post subject: Like 0 Dislike 0 Welcome lorettaacole, Normally, the mortgage company refunds the extra amount in the escrow account to the borrowers. But if there are any kind of back payments, then you won't get the refunds. I guess, as your son and daughter-in-law have defaulted on their mortgage payments, so the lender is holding back the escrow overage. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0