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Bank of America purchased our mortgage and shortly afterwards told us there was not any money in or impounds to pay our property taxes for the 2010 tax year ($2,000 shortage). To become current we agreeded to a loan mod.

During the loan mod they reported us as being late with our house payments. Finally in January 2011 we received our signed loan mod papers. All was fine untill March 2011, when BANK of AMERICA told us there is no money in our inpound account to pay our 2011 property taxes. They have no idea where this money went but were suppose to come up with this missing money to pay the taxes again.

Looks like B of A is stealing our impound account funds.

We never had any problem with the impound account untill Bank of America took over our mortgage. Has anyone else had this problem?

Product or Service Mentioned: Bank Of America Mortgage.

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Anonymous
#268391

BoA bought my loan. When I pay my loan I also pay taxes and house insurance in the payment.

Only time there is a shortage is when tax OR insurance goes up and you dont tell bank and continue to pay what you pay. Within a year that shortage will show up, If none of this occurred then not sure why they say all this.

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