New Homes and the wacky escrow accounts that come with them

RumpleForeskin · Post by **RumpleForeskin** » Wed Aug 22, 2007 9:25 pm

Who deals with this shit.

We were one of the thousands upon thousands of new homeowners who bought a new home a few years ago and were caught in the lending company's funny tax accounting trap which has caused a record number of foreclosures over the past year. Fortunately, we were able to adjust to the new monthly mortgage payment, however, after catching up on the taxes owed by us for the first year we owned the home, our escrow account has not been right ever since. The mortgage company has adjusted our escrow account 4 times over the past year by either increasing our mortgage payment a little, or writing us escrow refund checks because of overpayment of taxes.

In the midst of all this, our mortgage company wrote a check last year to pay for our insurance premium, but the insurance company applied the payment to someone else's mortgage. Instead of correcting the error and reversing the payment on the wrong mortgage and reapplying it to our policy, they simply dropped our coverage and cut us a check. What the fuck! So, we shopped around for a new insurance company for a couple of weeks and found one who was cheaper and gave better coverage. We paid them for our first premium and mailed a copy of the policy to our mortgage company to adjust the escrow accordingly and have all future payments made from the escrow account. The mortgage company did not pick up on all of this and applied forced insurance on us with a much higher premium which meant we were double insured over the last year and a half. Obviously, our escrow was readjusted to cover the higher premium making our mortgage payment increase.

After several phone calls back and forth between our insurance carrier and the mortgage company, we were getting nowhere. My wife finally walked into a mortgage office and laid everything out on the table and the mortgage company fixed everything. They cut a check for this year to our insurance company and the other insurance company refunded the money we were charged for the double insurance coverage back into the escrow account. Ah, the fucking escrow account. Now, mortgage company is trying to re-adjust our mortgage payment to a much lower payment because our premium is only a third of what the forced carrier was charging us and on top of that, there was a new tax analysis done on our property value and estimated taxes to be paid for '07. Now, they have written us a huge check and we're scared they may have written it for too much. It would be easier to take the option of just keeping the money in there, but I have a real problem of keeping extra money in an account that isn't earning interest. If there is extra dough lying around, I want it invested in a commercial non-publicly traded REIT or a VA; not a fucking escrow account. But thats just me.

This sucks.

War Wagon · Post by **War Wagon** » Wed Aug 22, 2007 9:35 pm

RumpleForeskin wrote: My wife finally walked into a mortgage office and laid everything out on the table...

...and the poor table now lays in splinters.

RIP

Edit: sorry... too easy.

Still wondering how in the fuck someone pays for 2 homeowner insurance policies for 18 freaking months before deciding that you know, maybe it's time to do something about it.

OCmike · Post by **OCmike** » Wed Aug 22, 2007 9:48 pm

...which meant we were double insured over the last year and a half.

No doubt to cover the damage your OL and her cloven hooves were doing to the carpeting and floorboards.

RumpleForeskin · Post by **RumpleForeskin** » Wed Aug 22, 2007 10:03 pm

War Wagon wrote:Still wondering how in the fuck someone pays for 2 homeowner insurance policies for 18 freaking months before deciding that you know, maybe it's time to do something about it.

They didn't notify us of that until AFTER one year had passed on our original insurance premium expiration.

BSmack · Post by **BSmack** » Wed Aug 22, 2007 10:12 pm

RF,

In the real world, attorneys can be a great resource. Not so much at T1B.

War Wagon · Post by **War Wagon** » Wed Aug 22, 2007 10:39 pm

RumpleForeskin wrote:
War Wagon wrote:Still wondering how in the fuck someone pays for 2 homeowner insurance policies for 18 freaking months before deciding that you know, maybe it's time to do something about it.
They didn't notify us of that until AFTER one year had passed on our original insurance premium expiration.

hmm...

ya' know, most folks with the acumen and werewithal to own a home in the 1st place kinda' look at every freaking dollar the mortgage company is trying to extort from them on a monthly basis.

Who's your mortgage broker, United Gulf Transvestite?

Do you even know what an amortization sheet is, or does your wife handle all those annoying little details?

Lastly, when you were signing all those silly legal papers at the bottom, did you just use an "X" to indicate that you agreed to the terms?

Goober McTuber · Post by **Goober McTuber** » Thu Aug 23, 2007 2:24 pm

You do know, CrumpledShitstain, that if you have something like 20% equity in your home, you don’t need an escrow account? You manage your own money, pay your own bills. Something to shoot for besides a grease-cave hidden somewhere in Flesh Mountain.

Even when I bought my first home and was forced to escrow money for taxes and insurance, it was placed in an interest bearing account. Who’s holding your mortgage, Washington Mutual?

Mikey · Post by **Mikey** » Thu Aug 23, 2007 3:16 pm

^^^^^^^^^^

What he said (pretty much).

OCmike · Post by **OCmike** » Thu Aug 23, 2007 3:28 pm

Goober McTuber wrote:Who’s holding your mortgage, Washington Mutual?

No, Washington Mutual only deals in "A" paper.

Dog · Post by **Dog** » Thu Aug 23, 2007 3:35 pm

A mortgage company will notify you more than once before forcing their insurance on you.

'sayin

maybe you should pay more attention to what gets put in your mailbox.

Neely8 · Post by **Neely8** » Thu Aug 23, 2007 3:51 pm

Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??

quacker backer · Post by **quacker backer** » Thu Aug 23, 2007 3:55 pm

Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??

that is so wrong

RumpleForeskin · Post by **RumpleForeskin** » Thu Aug 23, 2007 4:00 pm

Dog wrote:A mortgage company will notify you more than once before forcing their insurance on you.

'sayin

maybe you should pay more attention to what gets put in your mailbox.

Yeah, they did. We sent them a copy of our policy and I made a follow up call and they told me everything was taken care of. Next letter received in the maild was our new policy of the forced insurance. How could I have control over that?

RumpleForeskin · Post by **RumpleForeskin** » Thu Aug 23, 2007 4:02 pm

Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??

Your nose would be in 4 pieces right now if you were standing in front of me.

Neely8 · Post by **Neely8** » Thu Aug 23, 2007 4:16 pm

RumpleForeskin wrote:
Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??
Your nose would be in 4 pieces right now if you were standing in front of me.

Because you don't like to follow rules? I am just looking out for the integrity of the board here. You brought her into this and failed to follow one of the main rules of this place.

I know you tried but Rumplecow's family seems to have gotten in the way....

Cuda · Post by **Cuda** » Thu Aug 23, 2007 4:42 pm

RumpleForeskin wrote:I have a real problem of keeping extra money in an account that isn't earning interest. .

It IS earning interest, dumbfuck; just not for you.

Mister Bushice · Post by **Mister Bushice** » Thu Aug 23, 2007 5:04 pm

Has a very hairy guy been by recently to stand outside and yell "I'll huff, and I'll puff, and I'll blow yer house down?

BSmack · Post by **BSmack** » Thu Aug 23, 2007 5:06 pm

RumpleForeskin wrote:
Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??
Your nose would be in 4 pieces right now if you were standing in front of me.

Settle down Francis. Nobody's nose is going anywhere.

PSUFAN · Post by **PSUFAN** » Fri Aug 24, 2007 2:16 pm

RumpleForeskin wrote:
Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??
Your nose would be in 4 pieces right now if you were standing in front of me.

Cool. Buttfuck him in the schnozz

PSUFAN · Post by **PSUFAN** » Fri Aug 24, 2007 2:18 pm

Neely8 wrote:Did you ever manage to get that tittie shot of your sister? I mean it was open casket right??

I'm guessing the undertaker didn't "misplace" the modesty covering in this case.

WAR degenerates...but UNWar unshapely growths.

T1B

New Homes and the wacky escrow accounts that come with them

New Homes and the wacky escrow accounts that come with them

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