Mortgage Companies Failing to Pay Escrowed Premiums
Wednesday, September 20, 2017
A major storm is forecasted to hit your hometown. You secure your family, your possession and your home. Maybe you evacuate. You sleep better at night knowing you have property insurance that will cover any damage. You know you have insurance because you pay your mortgage every month, and every month a portion of your payment is escrowed to pay your property insurance. Your mortgage company requires you make these payments and requires you maintain property insurance. Your mortgage company pays your premiums with your escrowed funds, or at least they are supposed to.