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Bank Of America / escrow account

1 WY, United States Review updated:

BOA raised my house payment 36.00 a month due to the escrow increase (property taxes and insurance). This doesn't seem like much to most people, but I live in a small town, so I made a quick trip to the State Farm office & my local tax offices, where I dicovered my taxes went up 100.00 & the insurance 38.00 for this last year. So what does BOA need with the other 250.00 or so?? When I called them on it, I was put on hold for 45 minutes and they never came back on!!! Just think... what if they are doing this to millions of Countrywide account holders! I am in touch with the Attorney Generals Consumer Affairs Office (Wyoming) hoping for some advice and help. Good luck fighting the evil giant!

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  • Sa
      16th of Nov, 2010
    0 Votes

    I had Taylor Bean and Whitaker. You think $36.00 is a lot Bank of America got my loan when TB&W was raided by the feds. The first month our loan was $200.00 more then normal. I called and was told it was a transfer fee. The next month we got a letter stating an increase in our mortgage of $600.00 a month, I called after noting they had put both our summer and winter taxes as $2100. The increase in escrow was still more then the double taxes, but I thought it was s simple mistake. I contacted the city I live in and they informed me my taxes had gone down (because of the extreme decrease in value where I live) $75 a year. I called BoA and they were not helpful. 2 months later my mortgage was increased for a grand total of $2789, my payment was $1200 a month before BoA got ahold of my mortgage. My husband called this time and was told State Farm had not sent them the correct papers and they had given us there home owners, contacted State Farm who had no clue was BoA was talking about. We contacted a lawyer who told us BoA wasn't willing to work with us, they claimed the change was for fees and other things. Least to say we are now having to let our home go. A home we didn't pay more then we should have for, and a home we love. I've heard of many peoples homes being taken after BoA raises there payments so high they cannot afford to pay.

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