I closed on my house in July through Southtrust Mortgage. Around approx. December my mortgage was bought by Homecomings Financial. When I received my escrow analysis report fom Homecomings in April everything was fine. I showed a small ($50) shortage that I promptly paid. All taxes and insurance were paid with no problem.
The following year, I received my April house payment in the mail. To my surprise, my monthly payment had risen from $890 to $1116. I couldn't believe they only gave me 2 weeks to come up with the difference. I was never sent any notification of a payment change.
After about a dozen phone calls and hours on the phone with their clueless customer service dept. Over the course of SIX MONTHS... I was told that money had been transfered from my escrow account back to my original provider Southtrust Mortgage. This gave me an $1100 escrow shortage. Yet, nobody can tell me why the money was transfered.
Homecomings has been holding me responsible for the missing money by increasing my house payment. This was in no way my fault. I was never notified that anyone was requesting money or that money was actually transfered. They cannot tell me why the money was transfered.
I have closing papers on my home that state what the original escrow deposit should have been and copies of all of my mortgage statements with current payments. Yet this money seems to have vanished into thin air.
I tried to contact Southtrust to find out why they wanted money from my account. They are no longer in business. Southtrust was bought by Wachovia in Dec. Wachovia says it has no record of any account for me because it was a closed account by the time they purchased Southtrust. What I want to know is... How did a company (Southtrust) request money in April if they had been out of business since Dec. 2005. It all seems really fishy. I just want my money back in my account. I'm having to pay for something that I've already paid for.
Isn't that called stealing? Isn't it against the law for my escrow money to be used for anything other than taxes and insurance? Isn't it illegal to NOT notify a change of a legal contract i.E. Mortgage papers/escrow amounts?
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