Hi All, First time posting. I am doing leg work now to try to figure this out, but not sure if anyone in the reddit world has mortgage experience or has maybe ever come across this. So Last year like many others, I refinanced for a better rate. Fast forward to last week, I get a delinquency notice from the township for my 2020 summer taxes. I have escrow set up, definitely had money in it, but the time in which it was due was definitely around when I was refinancing.
My taxes were due 9/14/2020, I closed 7/30/2020. I made my first payment to the new servicer 9/1. I checked the escrow records there, nothing paid til winter. I received back a refund of my escrow from my previous servicer 8/2020, however, doesn’t seem to be the amount listed in escrow as reflected on my last statement to them. My HOI was also due around this time, thankfully this was paid, just not really sure by whom as I don’t see record of it. I have asked my insurance provider to try to obtain that information for me to better help me understand.
I used a broker that works with various lenders to find the best rate when I did the refi. Here are some numbers if it helps.
My last statement on 7/4/2020 (which was for august, but not due as I had switched companies by then, stated that my balance in escrow as of that statement state was $2,647.81.
I recieved back a refund of $1652.28 from them, which would lead me to believe they paid something, but not sure what as it wasn’t the total amount reflected above. My HOI was due 8/14, if they paid this it would have been a total of $1289.00, which would leave me with an escrow refund of $1358.81, which is less than what I got. My taxes due were $2.185.56, which would have also left me with less that the refund I recieved, so that alone doesn’t make sense to me.
The Previous servicer also cut me two checks, one ended up being for $350.24 and the other $1302.04. So not entirely sure why I got back 2 checks, and theres no memo on these stating why.
I have called both my previous and current servicers, which say it could take 7 days to look in to. I honestly don’t know much about this stuff, which is why an escrow is helpful because I don’t have to worry about paying that stuff, I just make sure theres enough in there when the bills are due. But this is just so weird to me. If my previous servicer had the bill for my taxes, were they required to bring that to close, was the broker required to know this? If my new servicer took over 9/1, were they required to make this payment? I was explicitly told when I got my refund from escrow back to “do whatever with it” because my new servicer had already been loaded from my closing and was good to go. Just not sure whos at fault here, I mean, obviously ultimately me because at the end of the day, I should keep a better eye….but servicers are supposed to be obligated to make these payments on my behalf, but given the time of the switch, I am not sure who I need to poke at more, if that makes sense. Any insight is helpful!