Escrow or Mortgage company responsible?

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I paid a sum on closing that was written to an escrow company. Within the closing costs was a year of home owners insurance and I picked the insurance company. I closed over a month ago and now I’m getting a final notice from the insurance company saying that they are going to cancel my insurance because the haven’t received a the payment (a year’s worth that was in the closing costs). Who should I contact, the escrow company or the mortgage company that holds my loan? I have an impound account so I won’t have to deal with this. What gives? Where did my money go?

  1. Reply
    April 30, 2011 at 12:35 am

    Since it is an impound account you would contact the mortgage company.

  2. Reply
    April 30, 2011 at 1:30 am

    Human error or someone not doing their job. Contact the escrow company and find out what happen to the 12 month hazard insurance money. They may have generated the check and did not have the correct address to forward.

    If the check was cashed they will have a record of when and by whom. After a closing I’ve been called many a time by my escrow company, because the evidence of insurance may not note the mailing address.

    Good luck

  3. Reply
    April 30, 2011 at 1:36 am

    I feel you should contact the escrow company and ask for evidence of the check which was sent at your mailing address.

    Chances are, they might re send the check after confirmation of your mailing address since it would not show up in their records.

    Ask them to re send the check and confirm the mailing address.

    Also contact Mortgage Company and inform them about the status. So that they do not cancel your insurance.

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