I have tried for over two years to close out the escrow associated with my mortgage. The property is now rental property and my insurance company told me that it could no longer be escrowed.
This past May I thought I had actually accomplished this. Fairbanks changed my payment to only principle and interest and refunded the balance of my escrow. Lo and behold, by August they were billing me for escrow again. I cannot get them to answer my letters and phone calls to customer service do absolutely no good at all.
They just tell me that "Escrow Dept" has to respond.in trying to get this situation corrected, I did not send my payment in by the due date because I was not sure what amount to send. I certainly did not want Fairbanks to have any extra money. I have received harrassing phone calls. They talk over me and will not listen. They call me on Sundays and the "Loan Servicing Center" does not even have hours on Sundays. The payment is not even close to being 30 days passed due. These people are totally rude, crude and threatening.
I found out from my insurance company that Fairbanks paid them for the fire insurance on the property. My insurance company had faxed them a copy of the renewal and a note with it NOT to pay any premium. They did it anyway. It has now put my escrow in the negative again. They have done this for two years. If they need verification of coverage, why don't they just request it from me or my insurance company?
Another problem I have with this so-called mortage company is that I mail my payment in plenty of time before the late payment date but they apply a late payment almost every month. I totally believe that they hold payments not send certified or by phone (certified is too much proof but costs the customer extra and their phone charge is an additional $15, so you are screwed either way).
All I want are some answers about the escrow account - like why they keep paying money out that they are not even billed for? This company is beyond unbelievable - nobody knows what they are doing and they are rude while screwing up your account. My next step is contacting an attorney to see about suing the @#$! $ of them.
Betty
Proctorville, Ohio
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