My mortage company started an escrow without my knowledge or consent. Is this legal?

Layer-visible-off
0
Unfavorites
0

I have had this loan for 19 years and never have had an escrow account until this year. I don’t know why they started this escrow account. Thank you

3 months ago Joseph Metzler said:
 

If you’ve not paid takes or insurance when due, most mortgage loans allow the lender to force place escrows on your account to prevent non-payment in the future. If this isn’t the case, contact the servicer to find out what is going on.


0

First thing I’d do is call your loan servicer and ask what their reason and legal grounds for this is. Did you miss a tax payment or have your insurance cancelled due to non payment? That MIGHT be grounds for them to start an escrow account, but outside that, I know of no legal grounds for them to force you to escrow if you currently haven’t been.

updated 3 months ago
Ted Rood
1328 6
Answered 3 months ago
Ted Rood
1328 6

You Must Be Logged In To Answer