Cenlar Mortgage COholding of escrow funds

M
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Verified customer

My mortgage was with Taylor Bean and Whitaker who of course went bankrupt and that is why my mortgage is with Cenlar. They kept going up on my escrow and now my 2011 taxes and homeowners ins. have just been paid but there is 536.22 balance. I have requested to close my escrow acct and send me a check for 536.22. They have denied my request and stated my loan to value ratio is too high and would have to be under 80%. We are not talking PMI here but an escrow acct. I had my house reappraised in 2008 and had the PMI taken off with TB&W. So my
loan to value ratio is well under 80%, approx. 60%. This should not even be a factor. It should be my right to close that acct and pay my taxes and homeowners ins. myself. I even faxed them a certified copy of my appraisal even though that should not be a factor. I sent my last 2 payments for principal and interest due only and no escrow. Then I get a letter stating if I send another short payment (without escrow) they will return my check. They are forcing me to keep the escrow and overcharging me at that.
No Customer Service, they dont even know what they are talking about, I am retired and frustrated they will not return my money.Diane, GA

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