escrow/mortgage shortage

[deblw1]

I received a staement concerning shortage in escrow account and new payments needed which are $600.00 more a month! I had received a check for overage from escrow prior to this. The new amount includes an error for a double charge on school tax which i caught. Have been corresponding since 4/19 to get resolved. Now they say will accept short payment until matter resolved and it will not be held against me but they refuse to send me anything in writing to confirm this short payment and terms involved and the amount! Have been researching escrow shortages and am finding a trend! Escrow and mortgages companies sending overage check at end of year than turning around and sending new account statements showing gross shortage which balloons monthly payments to amount people can't afford and home is foreclosed on. Reason amount so large because they nicely front shortage, recalculate base needed to keep at all times in escrow, and add shortage on top! I am beginning to think this is a new way for companies to foreclose "Legally" . Anybody else finding this happening?

 

[army judge]

I have seen a couple of occurences, such as you describe.

If it ain't in writing, just don't do it!!!

Keep paying what your note dictates.

When you get an official letter, pay the increased assessment.

 

[deblw1]

thanks have learned my lesson concerning the returned overage will hold onto it so when they try to do this again will have it. I think what is happening is that when people get this refund check they think like i did that there is still enough in escrow to cover balance they require. They say federal gov. says they can do this and require 12 months to pay shortage. I believe they are playing a game to be able to foreclose on homes.