Mortgage Companies Make Mistakes Too!?

Mortgage companies are comprised of persons like you and me performing for the company and for their family and friends.  All employees certainly make mistakes.  But if you call a mortgage company and speak with their customer service departments about overpayment of the real estate taxes from their escrow account (which may not be located within the United States), they may not ever have heard of such a problem.  As trained they may even respond to you indignantly, shocked that you would have the audacity to accuse them of an error.  Well, I have to share one such anecdote with our readers which tells a very compelling story about one particular mortgage company’s arrogance:

1. Fall 2010 – [unnamed] Mortgage Company timely receives notification to update changes in tax records in order that property tax payments can be made accurately on behalf of all mortgagors including Client, but ignores advice before property tax deadline.

2. Fall 2010 – [unnamed] Mortgage Company makes payment for property taxes from Client’s escrow account and applies payment to wrong property due to Mortgage Company’s failure to act on correspondence from treasurer’s office.  Neighbor’s taxes are paid but Client’s property taxes are not paid.

3. Spring 2011 – #2 repeats, and another payment is incorrectly applied to wrong property.  Client’s property taxes are not paid, but neighbors are from Client’s escrow account.

4. Spring 2011 – Incorrect payments made are charged to Client’s escrow account.  Penalties and interest in excess of $4,300 are assessed against Client’s property due to nonpayment of property taxes, but are paid by mortgage company. Excess is charged to Client’s escrow account by Mortgage Company, tripling Client’s mortgage payment (which Client can’t afford to pay) due to error committed two (2) years running by mortgage company.

5. Fall 2012 – Client receives notice of increased mortgage payment. Client calls Mortgage Company customer service located in India. Mortgage Company representative arrogantly blames the County treasurer’s office, initiates foreclosure on Client’s property. Client has seven (7) small children.

6. December 2012 – SFT Lawyers enters as counsel for Client and files lawsuit for breach of contract, mental and emotional damages and medical bills on Client’s behalf against Mortgage Company and will not stop until Mortgage Company pays dearly for its mistake and withdraws any attempt to foreclose on its mortgage.

If something like this has happened to you, you need representation from real lawyers who understand the common mistakes that mortgage companies make.  SFT Lawyers has a number of lawyers who are experienced in making mortgage companies pay for their mistakes.  CALL TODAY FOR A FREE CONSULTATION(219) 841-5683.