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lwpat, Attorney
Category: Legal
Satisfied Customers: 25387
Experience:  Actively practicing trial attorney
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the company in charge of my homeowners doubled the price leaving

Resolved Question:

the company in charge of my homeowners doubled the price leaving me a short on escrow any thoughts?
Submitted: 5 years ago.
Category: Legal
Expert:  lwpat replied 5 years ago.
Thank you for your question and for using JA.

Could you explain your situation in more detail please.
Customer: replied 5 years ago.
my homeowners insurance has doubled without my knowledge leaving me with an escrow negative balance .. again
Expert:  lwpat replied 5 years ago.
Are you allowing the mortgage company to pick the insurance company? If so what is the insurance company and the mortgage company? Have you checked around for quotes from other carriers?
Customer: replied 5 years ago.

im working w/CITI Bank .. and my escrow should be the same or at least the same year after year .. the bank holding my mortgage and my homeowners policy holder did nothing to alert me to the 'double' of my payment .. which is done yearly ..

Expert:  lwpat replied 5 years ago.
I understand but there are a lot of problems with banks overcharging on insurance where the bank is the one that controls what company gets the business. You need to get some quotes and see exactly what is going on, especially if you have not had any claims.
Customer: replied 5 years ago.

gee thanks .. so i have no legal recourse .. nothing to tell my insurance company when i call them back that would 'get their attention' ? .. its not your fault .. its mine for not paying attention ..

Expert:  lwpat replied 5 years ago.
You should have been noticed of the change in rates. However, you have no way of knowing whether those rates are reasonable or not since you have not compared pricing. If they are charging you 2,000 a year and everyone else is charging 1,000 a year, then you may have some legal recourse. Wells Fargo is currently being sued in a class action in Florida.
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Customer: replied 5 years ago.
cool thanks!