Mortgage Company Woes

Discussion in 'General Conversation' started by badagirton, Jul 11, 2006.

  1. badagirton

    badagirton New Member

    Messages:
    33
    State:
    Indiana
    my mortage company is raising my house payment 150 more per month cause they under estamated my escrow account........
     
  2. Flatheadhunter33

    Flatheadhunter33 New Member

    Messages:
    3,764
    State:
    Yuma, Arizona
    I that leagal? have you checked your paperwork to find out if it is in violation? That is b.s.
     

  3. teaysvalleyguy

    teaysvalleyguy New Member

    Messages:
    9,751
    State:
    GC, OHIO
    Yes it is very legal, I am sorry to say. I close loans on houses and I see this quite often. Especailly when a lender is trying to get a loan to close without bringing money to the table. It bites the customer in the back end. Sorry to hear this brother.
     
  4. H2O Mellon

    H2O Mellon New Member

    Messages:
    3,012
    State:
    Ohio
    Is it any chance ABNO MORTGAGE? If so been there done that, had an attorney fight it for me. Bottom line... YES it's legal but it's TOTAL BS. Alot of insitutions that tread on Predatory Lending use this, at least thats what we were told.

    Good luck, I hope you turn out better than us, I will give you some more bad news: Our rasied est $100 per month for 12 months, then after the 1st 12 month period it raised agian, this time like $200 per month & we could not afford the pmts any longer. That started us down a dark road.
     
  5. jlingle

    jlingle New Member

    Messages:
    1,036
    State:
    Altus, Okl
    When we lived in Texas, our mortgage company told us that they were gonna raise our payments $180 a month. Come to find out, they double paid the property taxes on our home. It took those idiots about 10 months to figure that one out, and it took a lot of work on our part to get it straightened out. Good luck. Mortgage hassles can be a nightmare.
     
  6. RiverKing

    RiverKing New Member

    Messages:
    2,232
    State:
    Yellow Spr
    Yes unfortanatly this is legal, I work for a mort company and i see it everyday, and it does take a mortgage company along time to get anything straightened out, im not sure why, but it does..I hate to hear that, and your the one paying for their mistake...Honestly, if i was you, i would pay my own taxes and insurance, that way you dont have to worry about it, it is all in your hands...I know how you feel though, i deal with it everyday