Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

DEAR BOB: What recourse do I have against my new mortgage loan servicer who failed to pay my homeowner's insurance on time from my escrow account funds? When my loan servicing was transferred, I contacted the new loan servicer to be certain my insurance would be paid on time out of my escrow account. To make a long story short, after numerous requests by my insurance agent and myself, the new loan servicer eventually paid but only after my insurance was cancelled and had to be reinstated. I am furious. As a homeowner, what recourse do I have against my new loan servicer? – Roseanne S. DEAR ROSEANNE: I don't blame you for being very upset. There is no valid excuse for a mortgage loan servicer ever failing to pay property taxes or insurance premiums on time from the borrower's escrow ...