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Bank loan sold and payment higher

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Icon Mini Profile mrkwisgrumpy





Joined: 22 Oct 2009

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Post Posted: Thu Oct 22, 2009 9:10 pm    Post subject: Bank loan sold and payment higher
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Bank of america bought my home loan now i see where they are charging me more for somethings called a reserve which is a cushion. Is this allowed.
Icon Mini Profile eric1
eric1
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Joined: 04 Jan 2009

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Post Posted: Thu Oct 22, 2009 9:44 pm    Post subject:
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If your escrow balance has declined, then yes they can do that.
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