Mortgage escrow refund check - safe to spend?
Comments
-
I don't see how they paid his taxes automatically on a closed account. The way mine works is that the tax bills get sent to ME, and I have to send them on to the escrow department. If I were to close out escrow, there'd be no way for them to further draw on the account unless I sent them another tax bill myself.Ludicrous gibs!
-
Also, if I understand correctly, your brother didn't lose any money, because they had already paid the tax bill, which he no longer had to pay? Yes or no?Ludicrous gibs!
-
I get the tax bill but I have never had to send the bank it.
heiney, that's a little different scenario than I understood initially. Since the bank paid the taxes by mistake, they should be talking to the city to get it back, and have your brother pay them instead. The same end result though. -
Also, if I understand correctly, your brother didn't lose any money, because they had already paid the tax bill, which he no longer had to pay? Yes or no?
That is correct. I guess no one see's my point.........His initial understanding is that the check they sent him was an overage AFTER they took money to pay the taxes. The tax bills had already been issued so the bank would have known how much to keep to pay his taxes.
It's only a year or so later we find out they closed out the entire account and then THEY paid the taxes from a closed account.
This is too hard to get across on the screen. There are things we knew then and things we know now and the bank totally screwed the whole thing up by their own doing.
My brother did his due diligence and operated in good faith the entire time. He NEVER would have spent the money after holding on to it for 6 months if the bank didn't repeatedly assure him that it was his to spend.
So no he's not out any money on a balance sheet but it sucks to take close to a $6000 hit out of the blue almost 1 1/2 years later. It plain SUCKS, especially when it's not your fault.
H9"Appreciation of audio is a completely subjective human experience. Measurements can provide a measure of insight, but are no substitute for human judgment. Why are we looking to reduce a subjective experience to objective criteria anyway? The subtleties of music and audio reproduction are for those who appreciate it. Differentiation by numbers is for those who do not".--Nelson Pass Pass Labs XA25 | EE Avant Pre | EE Mini Max Supreme DAC | MIT Shotgun S1 | Pangea AC14SE MKII | Legend L600 | BlueSound Node 3 - Tubes add soul! -
I get the tax bill but I have never had to send the bank it.
heiney, that's a little different scenario than I understood initially. Since the bank paid the taxes by mistake, they should be talking to the city to get it back, and have your brother pay them instead. The same end result though.
Ha ha ha ha ha ROTFLMAO, ask the city/county to refund tax money. Not EVER going to happen.
At this point all we were looking for was for the bank to take a bit of the responsibility for making a mistake which my brother had nothing to do with. He has plenty of equity in the house so it's not really going to be a burden.
I just get sick of this kind of crap happening and then "corporations" not willing to take responsibility for their actions. Especially when the consumer goes out of their way to try and point out to them something isn't right.
H9
P.s. I am way more pissed than he is about it. It's not my house or my money. We already had to try and deal with the County about an owner occupied exemption he wasn't getting on his taxes. That went nowhere fast.
Once the County/City/State gets your money; you'll never see it again unless you're willing to spend 50 times the amount on a lawyer and about 5 years of your life.-LOL"Appreciation of audio is a completely subjective human experience. Measurements can provide a measure of insight, but are no substitute for human judgment. Why are we looking to reduce a subjective experience to objective criteria anyway? The subtleties of music and audio reproduction are for those who appreciate it. Differentiation by numbers is for those who do not".--Nelson Pass Pass Labs XA25 | EE Avant Pre | EE Mini Max Supreme DAC | MIT Shotgun S1 | Pangea AC14SE MKII | Legend L600 | BlueSound Node 3 - Tubes add soul! -
We do see the point but it's like asking the bank to let you keep the money they deposited on your account by mistake, and you spent it in good faith since they didn't claim it on time. Yes, it sucks but do you really expect the bank to give your brother $6000 free money?
I wouldn't expect the county to refund the tax since the bank paid it for your brothers behalf. -
^^^^^^megous reported^^^^^^^
-
I think what I'm going to do, after verifying with the escrow department, is open a new savings account with that check and just let it sit.
This is the approach I would take Noah. I'm not sure I'd even verify. Just stick it in there, let it draw interest. They ever want it back you can give them the original amount and party with the interest. -
George Grand wrote: »This is the approach I would take Noah. I'm not sure I'd even verify. Just stick it in there, let it draw interest. They ever want it back you can give them the original amount and party with the interest.
Good thinking , exactly what I would do...or maybe even buy some silver bullion and stick it in a safe and forget you have it.The first rule of Fight Club is you don't talk about Fight Club -
This thread is two years old, My guess is the money is spent..
-
TOOLFORLIFEFAN wrote: »This thread is two years old, My guess is the money is spent..
yeh some low life spammer decided to resurrect it, the mods fixed them. -
LOL... I was wondering who resurrected this thread...
BTW- I've gotten 2 more refund checks since then. This last time, they sent me a refund check, and then RAISED my monthly payment. Guess they're assuming taxes will be going up...Ludicrous gibs! -
well in my experience it's better to put it back into your escrow account. your taxes and ins. will go up and it's better to have over than not enough. Federal law states that they must not hold more than a couple of months cushion so that is why they do it. Nothing like trying to catch up when next year your Ins co. has a 25% increase and the city government socks you with a 8% increase in your taxes.
-
AARGH i necro threaded
