---

Can a martage company keep my escrow?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
clee Joined: 03 May 2011 Posts: 1 1.29 Dollars($)	Posted: Tue May 03, 2011 11:24 am    Post subject: Can a martage company keep my escrow? Like 0 Dislike 0 I was behind a payment the mortgage company kept my escrow to make that payment and used the rest of the escrow money toward the loan itself. Can they do that?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue May 03, 2011 11:32 am    Post subject: Like 0 Dislike 0 Honestly, the banks have been known to do much worse. The escrow is supposed to be used only for tax, and insurance payments. The funds are to be placed in a trust account. If its legal what they did, you would need to contact a re attorney. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed May 04, 2011 10:45 pm    Post subject: Like 0 Dislike 0 Hi clee! Welcome to forums! Normally, the money in the escrow account is used for paying off taxes and insurance. However, if you've extra amount in your escrow, then the lender may use it for mortgage payments. Feel free to ask if you've further queries. Sussane

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