Just not my day/week

[Russianwolf]

Okay, We refinanced the house in November mainly to get away from Chase home finance as they wouldn't know their @#%^ from a hole in the ground. So after the closing I request a escrow history statement so that I can reconcile the account. nearly a month goes by before I receive it and it takes me 30 minutes to figure out that they goofed.

The escrow account was set up by me when I found out that it had not been properly set up during the mortgage and our property taxes weren't being paid. The County was in the process of doing a tax sale and I requested that Chase pay the taxes. Again a month goes by and I hear nothing. Date of sale is approaching and I call Chase. We are sending it out overnight on the 6th (the sale is the 7th). So we go down and find that the check hasn't been received and the house will be sold if we don't pay NOW.

So we hand over cash and confirm with the county that when the check arrives they will send it back to Chase. Next two payments are made LATE by Chase. Then we refinance. So what do I learn from the escrow history?

they never credited the check back to the escrow account. I can see the beginning balance matches the amount of the check. I see the deposits each month and the two payments for the next year going out, but never the deposit/credit of the original check. So I draft a letter explaining the oversight and request a refund.

I get a letter saying they have received my letter and will investigate. About a month goes by and we hear nothing. So I have LOML call. "Yes, we have completed our investigation and the funds were applied to the following year".

Now I have the escrow history in full, and the funds were never returned. So what options do I have? I am planning to draft another letter tomorrow, but want to know beyond that what I MIGHT be able to do? Should I contact a lawyer? I was hoping to be done with this when I refinanced, but I can't seem to get away from dealing with this company.

[germdoc]

Wow, Mike, you've had more than your share of weird financial issues. My recommendation--sell all your worldy possessions, change your name to an unwritable symbol, and go live in a hut somewhere in Montana.

FWIW I've usually been able to get any snafus worked out with the assistance of the lending agent who did the refinancing.

[430752]

Start a letter writing campaign with chase, and start calling. Border on harassing, but not actually harassing. Demand to speak with a supervisor or manager and have your documentation ready in case you actually get one.

call your lending agent (the guy/gal) who got the commish on the loan.

Also, most states license their mortgage brokers and companies. While, technically, an escrow is not a mortgage, I'd still complain to whichever state agency regulates mortgage lenders.

complain to the BBB, for what that's worth. and so on.

then, contact a lawyer. Do this as a last resort, not cuz they can't help, but becuz theire help will be expensive. And I dunno what property taxes are in WV, but can't imagine annual taxes are more than $5K?

curt j.

[SillyGoose]

When we run into problems that we can't solve with a few letters/phone calls we usually state to the highest level person we can deal with that if this isn't resolved by such and such a date we will be forwarding all of the relavant documentation to our states attorney general. Then we do.

We had a very aggressive consumer fraud division in the AG's office and they would usually investigate issues. It helped get some issues resolved with a utility we were having problems with (Ameritech) I would check out if you have a consumer protection division in your state and use them if you can. It is worth a shot if you can get it done without having to pay out of your pocket for an attorney. (no offense to any of our attorneys on the forum)

Also don't banks or lenders have to be licensed to do business in a particular state? Find out who does the licensing and file a complaint with them.

[dkhoward]

If it were Texas, my first call would be to the State Banking Commission. If WV has such a beast, that would be a good place I think. My next call would be to the state attorney generals office. In Texas, misaapropriate of escrow funds is frowned on. The SAG and the Banking Commission will know if there have been other similar complaints. A phone call or letter from the banking commission or the SAG usually evokes a pretty quick positive response.

[Russianwolf]

Update. Sent another letter giving them 10 business days to reply (I gave them 15 as I was busy). Nothing. Forwarded all info to the WV State Attorney General's office. They contacted Chase. I received a letter from Chase saying "we'll look into this and get back with 10 business days".


Today (one and a half years later). Received a check for the amount they had claimed they had applied to my account. Stupid morons, they don't think an accountant knows how to look at numbers?????

YEAH!!!! Now to go buy that $200 Brinkman grill I've had my eye on and start grillin'.

Thanks Silly and everyone else. I'm tempted to send them an invoice for my time and interest.

[crokett]

Glad to hear it got resolved but sad to hear it took this long and required the services of the state AG's office. Banks are remarkably good at holding onto their money (or your money so long as they have it in their possession).

[just4funsies]

There is nothing you can say or do that will get the bank's attention quicker than a letter from a lawyer. Normally, a lawyer will write a letter for a couple hundred bucks. That's usually all it takes. If not, file suit, and ask to recover your lawyers fees as part of the settlement. If your lawyer thinks the suit has merit, he will usually "partner" with you, as he can usually get a greater fee that way, and you won't be much out of pocket. Things rarely will get that far, however, because the bank is really only pushing to see how far you'll go (that is, as long as they don't have good reason to think THEIR case will win).

[pierhogunn]

I think that there is a website that can be of help to you, or anyone who gets flack from anyone

http://www.fecalgram.com

these folks really know how to get your point across to the guilty party.

[jhart]

My thoughts about Chase are about the same as yours, Russianwolf. I don't have a home loan, but do have a credit card and find they are slow, slower and slowest when it comes to getting things done. As of now, I have their card, but seldom use it. Every year, they charge me a fee, and every year I have to call them, ask them to remove it, as others don't charge for it, finally talk to a supervisor, threaten to cancel my card and then they finally remove it. One of these time, I'm just going to cancel it and be done with the frustration.