In August of 2008, my mortgage was sold to Everhome. Unfortunately, my husband and I were in the middle of a chapter 7 bankruptcy. Everhome refused to allow us to reaffirm on our home, and after our bankruptcy was discharged, sent us out loss mitigation paperwork, even though our payments were always on time.
On 11/20/08, I closed on a new loan, refinancing for my mortgage with Everhome. I contacted Everhome on 11/21/08 to inquire as to how long it would take to have my escrow funds released to me, and the gentleman I spoke with said it could take up to 30 days, but if I opted to forward or fax the needed paperwork, that would speed up the process. Being that I had no idea what paperwork was needed, I chose to wait it out. He did state that my county taxes would be paid soon. I stated that no disbursements should be made from my escrow account as I paid for that at the closing of my new loan. He stated he noted the account and the call was disconnected.
On 11/25/08, I received an urgent call from my loan officer stating I needed to contact Everhome and let them know I am requesting them to not make the real estate tax payment out of escrow. I was a bit concerned, considering I had already made a request that NO funds be disbursed from escrow at all. I contacted Everhome and spoke with someone who documented my account (for a second time), and the call was disconnected.
On 11/26/08, Everhome received a payoff for the above mentioned account, including all interest, fees, etc requested.
On 12/3/08, I contacted Everhome again. I had seen a "misc disbursement" in the escrow account online and wanted to inquire as to what that was. The person I spoke with said that was internal for the recording release fees and that my escrow funds would not be released until 12/26. I was pretty thrown by that, as that was not what I was previously told. All he could say when I asked why is "it's company policy".
On 12/9/08, I contacted Everhome again. My fuse was pretty lit this time, after having told these reps multiple times DO NOT MAKE ANY DISBURSEMENTS FROM MY ESCROW ACCOUNT, I log on to the website to find Everhome paid mortgage insurance premiums to FHA on an account that has a zero balance. THERE IS NO ACCEPTABLE REASON FOR THIS. And the response from the rep, Sonia Reyes, ID SR5 is "We're sorry, but its your problem now. You need to call FHA and get a refund". Not to mention that now I am being told my escrow funds MAY be released on 12/26, but there is a 7-14 business day processing time, plus an additional holding period. This, again, is COMPLETELY UNACCEPTABLE. It should be Everhome's responsibility to get the refund of that, not mine. I didn't pay it in error, Everhome did.
I sent this complaint to Steve Zador on 12/9/08, who is some type of VP at Everhome Mortgage. He is a nice enough guy, but doesn't seem too responsive. He forwarded my complaint on to a "customer service bridge" and told me I would be contacted w/in 24 hours. Well, 48 hours later, and still no response.
So I called Everhome again this morning. This time, I got a real "winner" on the phone. Vanessa (ID VC1) who stated that the reason for the 30 day hold on my escrow funds is to MAKE SURE THE WIRE TRANSFER OF THE PAYOFF FUNDS CLEAR!!! I couldn't believe I heard that. Wire transfers clear immediately. So of course, I had to ask if the sun fried her brain. And the call was disconnected. May not have been the most professional act on my part, but after the heck and back I have been through with these people, so be it!!!
To all on here that have FHA loans and wish to get away from Everhome, check with a reputable company about an FHA streamline. Quickest way to do it.