How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask CalAttorney2 Your Own Question
CalAttorney2, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 10206
Experience:  I am a civil litigation attorney representing individuals and businesses.
Type Your Consumer Protection Law Question Here...
CalAttorney2 is online now
A new question is answered every 9 seconds

my mortgage provider is refusing to eliminate my escrow account.

This answer was rated:

my mortgage provider is refusing to eliminate my escrow account. I have provided insurance coverage but they continue to bill me for their own insurance and make treats that if payment is not received they will report it to credit.. please help!

JD 1992 :

Hello and thank you for contacting Just Answer. I am an expert here and I look forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification.

JD 1992 :

I need you to be a little more specific in your question(s) if you could. When we answer general ones like "please help" we have to give general answers and, invariably, the customer responds with "I already knew that". This type of forum works better if you ask specific questions so we know exactly what you are looking for.


Please help is at the end of my question. I provided you with information about the problem.

JD 1992 :

"Please help" is not a question but since you rated Bad Service without responding to my request I'll opt out and someone else can assist you if they choose to do so.

Dear Customer,


I am a different contributor. The problem that you may be running into with your lender here is that the escrow account is often (but not always) part of your larger mortgage contract. The funds in the account do not just cover your homeowners insurance, they usually cover real estate taxes, flood insurance, and any other large dollar figure payments associated with keeping the property clear of liens and protecting the mutual investment.


If your lender is claiming they have a right to keep the escrow fees as established, you can ask them to point you to the part of your contract dealing with this fee and why it cannot be modified (some loans carry an "impound escrow" which is non-negotiable and the homeowner must continue to pay fees regardless of the balance of the loan, or the value of the equity, while others have "minimum escrows" which may be more variable, such as when you take on your own insurance).


As with all contract questions, the best source of information is the mortgage contract itself, there will be a section or clause relating to the escrow account and tell you what terms you are required to keep and if you can replace the account payments through a purchase of your own insurance.


While I do hope that your contract allows for the modifications and that this specific clause of the contract only needs to be brought to the lender's attention, if not, I hope that you can reach a reasonable resolution with your lender.


If you have any questions please do not hesitate to ask.

CalAttorney2, Lawyer
Satisfied Customers: 10206
Experience: I am a civil litigation attorney representing individuals and businesses.
CalAttorney2 and 5 other Consumer Protection Law Specialists are ready to help you

Related Consumer Protection Law Questions