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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 113493
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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My problem is related to mortgage escrow account. The

Customer Question

My problem is related to mortgage escrow account. The mortgage company keeps raising the amount of escrow without giving me any reason why and every year it seems to be underfunded. I am living on a SS and if this continue I will have to foreclose. Is there anything I can do? Thank you.
JA: OK. The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: No, not yet.
JA: Please tell me everything you can about this issue so the Lawyer can help you best. Is there anything else important you think the Lawyer should know?
Customer: The company"s name is***** else would you like to know?
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Submitted: 1 year ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You are entitled to know the reason for the increase in escrow, such as increase in taxes on the property or increase in homeowners insurance, if they are paying those items from your mortgage. The lender has a right to hold escrow, but must provide you an itemized escrow statement each year and if they are not doing so you need to send a written demand to them for one and if they refuse, then you can file a complaint with the US Department of Housing and Urban Development and your state attorney general's consumer protection office and they can assist, if they cannot make this lender provide the escrow statements, then you need to get a local consumer protection attorney and file suit against them for violation of HUD regulations in not providing an annual escrow statement.

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