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 Nightmare UK Landlord? |
I hope you can help..
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 How does people owned so many houses? How they do that? |
Hi,
I’m not sure how ppl buy so many houses without any issue.
I’m having a mortgage for my house and my fiancé also have his.
If we go ahead and buy another house, ... |
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 My landlord used a portion of my rent for fence repairs that are not my responsibility, now he says I owe rent |
| Long story short; a fence behind my apartments was damaged and my landlord sent me a bill for $270. I am not responsible for the repairs because neither I, nor my children did the damage. On more ... |
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Steve W | Ok whats the catch and anyone hear of this? |
In my mail box is a check for 2150 dollars from my mortgage company. Its like the lottery but too good to be true thought and i hear of all of this dishonesty banks are commiting. I called my company up and they told me its escrow overage its my money. It looks like a payroll check. reason why i am so cautious is my brother Carl got a 10k check in the mail three years back cashed it ended up owing the bank 15k. I am really confused. I know that we are antispating a check from the govenment in my, thats about it. i dont want to end up in a situation like my brother, he told me it is a scam |
 |
 
Been there.
 |
It could be valid. An escrow check comes from any taxes or insurance you have left over when you sell a house. Sometimes you get a balance refund when those two things go down, but $2150 is a lot of money for that.
If you have not had any real estate transactions recently, check into it thoroughly. If it is truly from your mortgage company, I can't see why it would be bad, but check into it carefully anyway. |
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SDD
 |
Mortgage companies are required to annually readjust escrow collections based on projected (and past) billing. If they have collected over the reserve, they are required to refund that amount and adjust future payments. |
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65% water
 |
Your escrow company should have sent you a statement showing your escrow is in surplus. Have they adjusted your monthly payment downward as they would have done if you were overpaying?
If the escrow company says it's kosher then it is. Tell Carl good things sometimes do happen, but only to nice people like you! |
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1macaca
|
Each year they are required to do an accounting of what you paid into your escrow account and what they have paid out. Get that from them and make sure that your insurance is paid and your taxes are current. It seems extremely high if everything is paid. They also should have adjusted your payment down about $180 a month? ($2150 / 12) That's a giant mistake....something didn't get paid. Don't spend that until you verify that everything got paid. |
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ed
|
That can very well be an overage in your escrow.
It seems like a lot. That would be overpaid tax estimates.
Check with your morgtage company and verify before cashing it. |
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estielmo
 |
Simply go to the bank and get face-to-face verification. I know what you mean, I have gotten the checks like your brother did, but if he read the fine print he would have seen that it was a line of credit and that by cashing it he was essentially taking out a loan. |
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LE
 |
I've gotten those a few times(not many), but that seems like a lot. Call the Bank to make sure this is oK. They should also have sent you a paper with it showing how much you paid to escrow vs. how much was used.
The only other thing that would worry me, was why was the escrow calculation so far off. One year, I got a big escrow check b/c when i bought a second house, my insurance company mistakenly dropped my insurance from the first house. Since, they did not pay insurance from my escrow, there was a surplus that year.
I had to go get insurance, then pay it out of my own pocket. |
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src50
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Your lender should be sending you annual escrow account statements. Look at them. |
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Homer
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read the front and back of the check to see if it says anytrhing about being a loan, or payments. Then get a copy of your escrowing closing document and compare the two |
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courthouseblue42
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There should have been a letter or something else with the check to explain what it was. Before you cash it, see about getting written confirmation. Call the Better Business Bureau to see if anyone has complained about a similar situation. |
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Easterlily
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I think this check is like a loan so they can charge you interest on it. I wouldn't cash it unless you absolutely need the money. Refuse the check and send it back, IMO. |
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booguill
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Soon as Bank opens tommorrow i am depositing my suprize in the bank $1880.00 Escrow check. Could not have come at a better time been unemployed for 4 months. |
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