---

escrow

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
admutaali1 Joined: 12 Jul 2010 Posts: 1 1.47 Dollars($)	Posted: Mon Jul 12, 2010 3:18 pm    Post subject: escrow Like 0 Dislike 0 My mortgage servicer is Indymac Onewest Bank. A little over a year ago they we discovered they had escrowed our taxes (2 years worth) We live in Summit County Ohio. We fell behind in our first half taxes and contacted them emmediatly. Wehad an agreement with the county to pay on the back taxes but we could not fall behind on any future tax payments. In July we paid our taxes not knowing the servicer had gone in and paid our taxes. We contacted Indymac and they said the county would have to contact them and they needed to see a written copy of our agreement with county and then they would take the escrow account off our mortgage. I emmediatly faxed the agreement with county to Indymac. I also contacted the county and they contacted Indymac. I also asked the county to send a refund to Indymac of the taxes we paid in January when Indymac when in and also paid. The refunded amount was never applied to the escrow account. They claim the check came from me. We went back and forth with the tax deptartment for months, calling almost everyday. The escrow account increased our payments $1000.00 a month. We applied for loan modification. We were given a trial modification period of 5 months and then denied. We have tried working with Steven Latourette to get in contact with Indymac's congressional liaison Michael Nitz...who we believe has recently quit or been fired from Indymac. Last Friday after one year of dealing with this we were told that they would be willing to spread the shortage out over two years even though it's rare for them to do this. They said they would have turned them back to the county but since we applied for a loan modification, they can't. We applied because of the escrowed account. They have been charging us late fees and reporting us to the credit bureau. They are willing to reimburse us for 3 months of late fees. We have never not paid our mortgage. I am reluctant to write the letter requesting the escrow be spread out because I don't think we should be penalized at all with fees and poor credit reporting. What is my recourse?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Jul 12, 2010 11:01 pm    Post subject: Like 0 Dislike 0 Hi admutaali! Welcome to forums! If you have paid the taxes on the right time, then you won't be liable for paying any late fees or spread them over 2 years time period. However, if you haven't been able to pay off the taxes, then it would be a good idea to sign the letter and let the lender spread over the escrow dues for the next 2 years. 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