My mortgage was sold to American Home in January of 09. I received a letter saying that my payment would increase by 300 due to escrow analysis. I called the company and asked how I could reduce this. I am single mom and a teacher, and needed help making the payments as it was. They told me to look around and get cheaper homeowners insurance. I did and lowered my premium from 2200 a year to 947 a year. They then told me to fax a letter requesting that they reanalyze my account. They said this could take 2-3 months. I called back and it had not been done then I was told that they didn't HAVE to do this that is was up to them if they wanted to reanalyze. On one of the phone calls I made I was advised that I qualified to have my escrow account deleted completely. I then was told that they had lost the refund check that my prior insurance company sent them. The Insurance company called and gave them the check number they sent etc. The Insurance co had to cancel the check and they mailed it to me. I then paid them myself for the insurance for one year.
As of May I am still paying the elevated payment that is based on a ins policy i no longer have. They told me I met the requirements to delete the escrow and guaranteed me that it would reduce my payment from 2150 a month to 1666 a month. Then I called to verify that it had been done as I was promised and they said I was denied due to a late fee which was because they held my payment in reserve because it was the wrong amount that they quoted me. I called again and refused to speak t o anyone except the office of theh president i got through to them, and she said she sent in a request to delete the escrow, she said she would call me back to day — 5/16/09 as of noon no phone call. I have had representatives promise to call me back 3 other times and they NEVER have. I am desperate and fed up!
And terrified after reading these posts of what is going to happen next!
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