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Do i owe money for my new escrow?

Posted on: 18th Jan, 2011 12:00 pm
we just refinanced our home with a streamline refinance. at the closing the loan officer told us that as of that day federal laws had changed, and they now had to pay upfront the money into our new escrow. so when we receive the balance of our escrow back from our old mortgage company, we need to send it on to the loan company to reinburse them. i'm just wanting to make sure this is the case and not that the loan officer is trying to scam us. i have repeatedly tried to contact the loan officer to find out what the letters stand for that i'm supposed to write the check out to. but i have received no response. i don't have a problem paying it if it's legit i just don't have any official document stating that it's owed. and we have done this type of refinance several times without this problem.
Hi candicewinterton,

Well... I haven't heard of this law. Nevertheless, I will suggest you to contact other local lenders and check out their opinion in this matter.

Thanks
Posted on: 18th Jan, 2011 07:09 pm
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