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Chase Home Finance / forced escrow due to chaise's mistake!

1 United States Review updated:

In January of 2007, we had county water available to our small community. We decided to hook up with the county, as our well water was not to our satisfaction. We live in a very rural area in NC, and our water department decided to have us make our payments to the tax office. It is called a water assessment fee. Your basic hook up fee. The county gave us a year to pay interest free. We started making payments. I believe we had paid $200 -$300 of the &1200 or so that was due. In January of 2013 it was to be considered delinquent. All of my neighbors, myself included, received letters from their mortgage companies. CHASE IS THE ONLY ONE WHO TOOK IT UPON THEMSELVES TO PAY THIS water assessment fee. Chase misread this as a very past due tax,and paid it in July of 2007. They then forced us into escrow. My husband had a credit score of 917,which I am told is unheard of. I had a credit score of 750 which is just ok. It still shows we both pay what we owe.Our house payment has gone from $472.91 to $742 .I have been with Chase since 2000 and have only been late one time. Chase has gone on to pay other things that were not due,and have really punched the fees to me and my husband. We are not rich, and Chase refuses to back down from their position. They called my local tax office and asked them if the money was not owed the day the water lines were installed, of course it was and now I am out of my money. I have paid all my fees. I am even 2 months ahead on my payments. I am trying to refinance. The customer service tells me a different story every time I call. One person told me I had to speak to the escrow department and the escrow department was closed for the day. I was told to call at a later time. I called the next day to pay the ESCROW DEPARTMENT AND WAS TOLD THERE WAS NOT AN ESCROW DEPARTMENT. What do I need to do to get this over with? I have cried, prayed, begged and still to no avail. They still get to screw me over and look as though they have done no wrong.

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Comments

  • Tr
      16th of Jul, 2008
    0 Votes

    They are not honest at all. I had four strokes and a heart attack almost four years ago. So of course they had to get my homeowners insurance. But my local company said they could still carry my flood wind and hail. My policy was not due til April 24 08. I paid it on the 7th but they paid it on the 4th. Needless to say they now say that since I had to have them pay for homeowners into escrow they had to do that too. I have contacted Better Business and then the ThriftSupervision (Department of the Treasury). I am waiting to see if they will do anything!!!Why can't we all do a class action law suit?

  • Ja
      25th of Jul, 2008
    0 Votes

    I absolutely agree. I am going through the same problem since November 2007. I refinanced back in 2006 and in November I was informed that I would need to pay for an escrow shortage related to Property Taxes that weren't included in my refinance. The notice from their "Escrow Department" gave me until December to make up the shortage in the amount of $1200 otherwise my fixed rate mortgage payment would increase by January. I was supposedly "Preferred A Customer". Not one late payment. Now I cannot get anyone to help me to let me do a payment plan for the shortage which was due to their two representatives error. I had two representatives handling my refinance. They've had a year to catch this error and I'm given 30 days on single household income. No one will assist me to bring my payment back to what I originally signed on to. Extremely disappointed with this error and their lack of assistance to a loyal customer. It is a shame. I risk losing my home now.

  • Wh
      28th of Jan, 2009
    0 Votes

    http://www.labbb.org/BBBWeb/Forms/Business/CompanyReportPage_Expository.aspx?CompanyID=100018450

    file a complaint with better business bureau

    Also seek legal advice something is bound to work on getting your issue resolved.

    We are dealing with our own issues with Chase
    Don't give up I'm not
    Good luck

  • Mi
      10th of Sep, 2009
    0 Votes

    I live in a townhome and have been making my payments regularly. They somehow took all of my escrow ($1930.00)out of my account and opened up a homeowners insurance policy back in Jan. 09.I already had a policy with my HOA and sent them the certificate of proof. They explained that the escrow dept. misplaced the documentand was informed they found it and will reinstate my escrow $1930.00 Chase then tagged another $200.00 onto my payment for seven months and harrassed the hell out of me
    by phone. The past seven months of hell, I had to deal with eight to ten calls a day from collections claiming I only made a partial payment. I had to explain the same story numerous times until my body and mind shut down. They reported me to the credit bureau and totally wrecked my credit. Customer service and Collections never got on the same page and at with their mistake I am paying physically mentally and finacially.
    as of August they straightened out the statement but left me in really bad shape.
    Any info would be appreciated. Thanks for listening.

  • Vv
      10th of Dec, 2009
    0 Votes

    Hello all.
    I to am facing a very similar issue for the last year I have been paying the city tax department a monthly payment to take care of our property taxes. This arrangement was done in writing and I have proof that I have been paying,
    however as of November of this year Chase is claiming that I had not paid anything and was delinquent in payment. How is this possible when I have proof of payment. When I did speak to a rep they never gave me a true answer of why they went ahead and took care of the remaining balance of 2008 and also paid 2009 taxes (even though the 2009 taxes is not due until Feb 01 2010. So they are going to raise my payment about 600.00 to 700.00 more than what it already is. How can the law allow them to force us into escrow even though I was current on payment of my taxes this is total bull ### and I wont go down w/o a fight

    Chase I have all the documents to prove my innocence what do you have?
    Nothing but dishonest employees trying to line there pockets with my hard earned money
    ### you I will get justice!!!

    -V

  • Ag
      11th of Sep, 2010
    0 Votes

    Apparently, Chase makes a practice of having their tax agent pull annual tax payment records without excluding people who pay taxes via installments. This makes people appear to be delinquent and gives Chase an excuse to set up escrow accounts according to the standard contract most people sign. I believe they "troll" for escrow this way, and hope that most people will not put up much of a fight about it.* I especially suspect they do this for 30-year mortgages with fewer than 5 or 10 years remaining, in hopes that these belong to more senior citizens of whom they can more easily take advantage. I do wish someone would investigate this.

    For example, say your annual taxes for 2007 are due in full in January 2008, but your tax authority allows you the option to pay part of the taxes in November 2007 and the remainder in June, 2008. When Chase "pulls" the records in, say, February, 2008, only your partial November 2007 payment shows. "Oh, my goodness! You haven't paid all your taxes on time! You are delinquent! We must step in and fix this!" Having receipts for your November payment, and having billing statements indicating that you are allowed to pay in installments and that your next payment is not due until June, 2008, will generally do you no good, especially if Chase has already cut a check to your tax authority.

    Contact your taxing authority with this information and see if they can help you out. My tax authority was very helpful in getting my issue resolved.

    *I'm not clear on what is in it for Chase. Years ago, at least, any interest earned on an escrow account belonged to the borrower, and overages would be refunded to the borrower, not to the lender. Maybe this has changed? Does the lender now get a "cut" of any interest and/or overages in the escrow account?

  • Oe
      24th of Jan, 2011
    0 Votes

    Their escrow department made us pay a "spread" for a whole year on our county taxes. I told them and told them that it was due to our late filing for a homeowner's exemption. For a whole year we paid an extra $275 per month to cover this spread. And what do I get in the mail but a note from the county to return all the money Chase collected in our escrow. Thanks Chase for the year of mortgage hell.

  • Ba
      3rd of Mar, 2011
    0 Votes

    Chase Home Finance has forced my mortgage into default on the basis that they had to pay my property tax on a house in Florida, they had to open an escrow account so that I could pay them back, they placed and canceled homeowners insurance every month from June through December 2010, etc. First - I paid the property tax and Chase had to recall their funds; Second - the escrow account was not needed and any attempt through telephone, faxes and letters did not close it; Third - the debits and credits for homeowner's insurance further confused their ability to "correct" mistakes they made. There customer service employees are not capable to undo the bank's errors. The tax and insurance areas give incorrect information, do not acknowledge receipt of faxed or mailed requests and have actually laughed at me. The biggest problem for me was Chase putting my monthly mortgage payments in a suspense account, charging late fees, creating a fictitious "escrow payment" that had no basis in reality. By monthly and bimonthly statements increasing my non-payment of their aggregated bogus amounts, they have ruined my credit rating and have forced my loan into a default status. I filed a complaint with the Office of the Comptroller an agency that is supposed to investigate claims, but I have no faith in their ability to undo this situation. Over the past 8 months I have received letters ranging from threats, let's be friends, loan modification, contradicting letters of how much I am in arrears, but never taking any responsibility that they made blatant bookkeeping errors, deliberately increased my monthly payments amount to include a bogus escrow payment, use their employees as pawns to further their quest of ruining people's lives. I am a retired bank officer with 35 years experience in bank operations and know Chase's intent was to discredit me, by forcing my loan into default and ruining an unblemished credit rating. Because of Chase's ongoing assault to my loan and credit rating, it has been unforgivable to upset a grieving mother whose two children died in a two month period. My life was over by the loss of both my children and I have been barely able to function on a daily basis because of the grief. To put this in context Chase's assault has made what little relief I have, nothing short of unbearable. Because my daughter died at age 45. unexpectedly. leaving five children, I have been living with them to comfort them and viceversa. My son's death, their favorite uncle, age 43, murdered in Florida added to the trauma for all of us. No human being should be subjected to losses that we have had and because Chase can and does ruin people's lives deliberately, knowingly, unlawfully and has no concept of social responsibility, Chase needs to be held accountable in a court of law. Their despicable business practices and willful acts of deciept should not go unpunished.

  • Ja
      28th of Apr, 2011
    0 Votes

    Chase did mess up with my tax payments. In NH the county is not the primary collector of taxes, the towns are. I live in Merrimack County; the state also has a “town of Merrimack.” Chase paid the town of Merrimack instead of my town. My town then threatened me with a tax lien due to 1 year back taxes. I called Chase and they insisted they paid (my town). I had to be quite persistent and become aggressive at times but 3 months later, my town received their check.
    Then Chase tried to collect [from me] the money they paid to the wrong town! Round two begins... almost 6 months later it was finally resolved. I will say this; they have a terrible track record for estimating the proper escrow amounts.
    My Insurance premium last year was $791. They dispersed $790, then estimated this years $791 at $63.82 per month. I'm no math major but that is only $765.84 for the year! Bet your bottom dollar my escrow next year involves extra to make up the variance.
    My Property taxes are $7120 per year. They estimate my previous balance to be $0 and my Monthly escrow for taxes to be $540.23 per month… Again, my math tells me that adds up to $6482.76. 2009 they under estimated my taxes by almost $1100. So [in 2010] I had to pay $93 per month extra to make up for the previous shortfall in 2010. Yesterday they informed me they are returning my “overage” of $1086 via check with the next 60 days. And “good news, ” the rep states, “Your new total monthly mortgage payment will be $181 lower for the next year!” Again, no math wiz here but if I’m done paying for the previous shortfall, shouldn’t my new payment be less the $93? I gave a brief history of my escrow woes and asked to speak to the escrow department directly… the rep laughed! Then asked if there was anything else he could do for me?!

    Unfortunately the story goes on… 4th year of Escrow woes is on the way. If my property value hadn’t taken a beating, I would refinance somewhere else. But I’m as close to upside down as you can get without capsizing!

  • Un
      17th of Aug, 2011
    0 Votes

    I have the same issue. I am behind $770 on the second half of my property taxes. I had an agreement with the County Treasurer's office that I could pay the balance by 12/15/11. Chase somehow ended up with this information and mailed me a letter saying they paid my delinquent taxes and were going to open a forced escrow account because I had been delinquent. The escrow account would add an additional $295.74 a month to my existing mortgage payment, an extra $3, 548.88 per year. This was to cover the $770 that they paid the county treasurer as well as the total taxes for 2012, which have not even been billed yet, and for which the first half is due 11/11/11 and the second half is due 5/1/12. They figured the tax amount for 2012 to be $1852.10, the same amount as my 2011 taxes, even though my assessed home value for 2012 went down $40, 000. Keep in mind that the $770 they paid and the $1852.10 which would pay for the total taxes for 2012 (based on their over-inflated figures) totals only $2622.10. They are going to charge me $3, 548.88 for the year, an extra $926.78 over and above what they paid and will pay for the 2012. No one can explain what the extra $926.78 is for except to say they "need a cushion." This is just so unfair.

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