J.P.Margan Chase Complaint - Escrow Account - Surplus in account
LOUISVILLE, KENTUCKY -- My escrow account was review on 1/25/11 and had a surplus of 1006.71 cents, after waiting a couple of days for my money to be returned to me I call customer service on 1/28/11 and was told that they had 21 business days to send me my money and ask why because I do not have 21 days to send Chase my mortgage. I was told that since they had so many people with surplus that it was taking longer for to process refunds. Then on 2/5/11 I receive a letter of the Annual Escrow Account Disclosure Statement and at the bottom of the letter it state that my surplus of 1006.71 would be mailed on 2/19/11 and to allow 10 days for receipt. Today[2/10/11] I called to find out why my money had not been sent to me and was transferred 3 times, and the 3rd person told me that my money had been place in reserve, and I said that my money should have been mailed to me on 1/26/11 I was then told that it was system generated and that there was nothing to do. I stated that the taxes and insurance was also system generated but that they got their monies on time. I then ask where the money was and she stated in a reserve account.
I stated that they were making money with my money and she stated that they were not getting any interest from my money. now everybody know that a bank does not have place to put money that does not make any interest. This company is CROOKED and has no ones best interest at hand.