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Message
re: Mortgage company didn’t pay property taxes from escrow and property placed on auction list
Posted on 2/18/26 at 3:35 pm to Ramblin Wreck
Posted on 2/18/26 at 3:35 pm to Ramblin Wreck
quote:
That was what I assumed and I stated to the person in the tax office, “I’m sure the tax auction notification was just to create a sense of urgency and that my property wouldn’t be listed on March 24th.” Her response was “it would be listed in the March 24th auction if the taxes are still owed”. Maybe she is incorrect but that is what she told me. I even joked that I need to see if there were any deals on other RM screw ups.
Like I said I don't know Alabama. I know that Florida is 3 years. There's no way that Alabama is 1 year. I mean think about it, someone takes a job overseas with no mail and comes back 3 months later to their house sold off? Its just not THAT simple.
ETA: I'm also not shocked a clerk in Alabama is clueless.
This post was edited on 2/18/26 at 3:37 pm
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Posted on 2/18/26 at 3:37 pm to SallysHuman
quote:
shite, I think my daughter has a Rocket Mortgage. I’ll tell her to keep an eye out- that stinks!
I've used them for awhile without issue. They are still human, mostly, at the end of the day.
Posted on 2/18/26 at 3:40 pm to Ramblin Wreck
quote:
No more escrow accounts for me.
My wife and I have an interest-bearing bank account set up that we automatically transfer what would be the amount we would have paid for monthly escrow. We then just pay the property tax when due out of that account. Yes it takes a slight bit more on my part, but we make sure we set aside enough so the tax doesn't surprise us and interest on the money in the meantime.
Posted on 2/18/26 at 3:48 pm to billjamin
quote:
They probably are the servicer of origin. I don't believe Rocket balance sheets any loans and does the normal warehouse>ABS asset flow. Meaning JPM, BoA, CS, etc probably always owned it.
They sell everything.
The loans are put into mortgage pools backed by FannieMae, FreddieMac, or GinnieMae save for non-qualifying loans. Those are put into private label deals.
Buyers are banks, insurance, money managers, pension funds, etc.
Posted on 2/18/26 at 3:52 pm to Ramblin Wreck
This is why I went with a local place that won't sell my mortgage to a national company.. My first house mortgage company sold it to Citi Bank just a few months after signing...They were MF's to deal with following Katrina.. Completely all business "I want my money now" attitude... The only thing I can complain about is that they send the out the escrow checks way ahead of time.. For instance my homeowners.. If I want to make a change to the coverage I need to do it as soon as I get the first notice of new coverage... I have to call the mortgage company and tell them to hold up because I am in negotiations with the homeowners... It's usually about a month before the new policy takes affect...
Posted on 2/18/26 at 3:54 pm to Athis
quote:
This is why I went with a local place that won't sell my mortgage to a national company..
Lol, you guys acting like this is a big deal are being ridiculous. I wouldn't pay higher interest to a local bank JUST to prevent a escrow issue. An escrow issue is just as likely for a local bank. They are human too. Its not likely at all for anyone.
Posted on 2/18/26 at 3:58 pm to Ramblin Wreck
I’m guessing if they auctioned off your property due to their negligence, you’d have quite a lawsuit on your hands they’d have to deal with.
Posted on 2/18/26 at 4:00 pm to F1y0n7h3W4LL
quote:
Maybe there's a way to opt out
Depending on the mortgage company and type of loan, but you may be able to opt out of escrow if you have enough equity built up.
quote:
but it is convenient so you don't have to worry over a couple of checks per year.
It takes me 2 minutes to go online and pay my insurance renewals and property taxes. I'll take that slight inconvenience for a few minutes each year to avoid having to deal with calling the mortgage company and either the parish or insurance company if and when the mortgage escrow department drops the ball.
If you've ever had to deal with the people working at some of these escrow departments, you wouldn't trust them either. They read from a script (often in an accent you can hardly understand) and they're usually completely confused the minute you get them off script.
Posted on 2/18/26 at 4:03 pm to baldona
quote:
Lol, you guys acting like this is a big deal are being ridiculous. I wouldn't pay higher interest to a local bank JUST to prevent a escrow issue
LOL.. Dumbass... I didn't pay any higher rate than what was out there at the time... In fact, I was quoted a rate and they honored it even though the rates had jumped significantly...
Posted on 2/18/26 at 5:15 pm to Ramblin Wreck
This actually happened to a friend of mine and he ended up having to sue the mortgage company.
He won of course .....but Jesus H!
He won of course .....but Jesus H!
Posted on 2/18/26 at 5:25 pm to F1y0n7h3W4LL
quote:
I'm not completely sure how this mortgage/escrow thing works but every mortgage I ever had, held tax and insurance in escrow. I've not had one miss.
Once year, my mortgage paid the parish taxes but not the city taxes. Then refused to pay the late fee that the city assessed. All because they combined both the parish and city taxes into one payment.
Posted on 2/18/26 at 7:30 pm to Ramblin Wreck
This is why I have never and will never escrow my taxes or insurance. It's not convenient, it's unnecessary risk.
Posted on 2/18/26 at 8:36 pm to Ramblin Wreck
quote:
Baldwin County
That's not too far from my neck of the woods as the escrow flies.
Posted on 2/18/26 at 9:24 pm to brass2mouth
quote:Same thing happened to me a few years ago.
Once year, my mortgage paid the parish taxes but not the city taxes. Then refused to pay the late fee that the city assessed. All because they combined both the parish and city taxes into one payment.
Mr. Cooper (or whatever mortgage company owned the paper at the time) forgot to pay my insurance once too. Insurance company actually emailed me notifying me of the lapse in coverage and got it worked out quickly.
Posted on 2/18/26 at 9:48 pm to Athis
quote:
quote:
Lol, you guys acting like this is a big deal are being ridiculous. I wouldn't pay higher interest to a local bank JUST to prevent a escrow issue
LOL.. Dumbass... I didn't pay any higher rate than what was out there at the time... In fact, I was quoted a rate and they honored it even though the rates had jumped significantly...
You have never seen a mortgage rate lock sheet. It is priced into every loan. And if you negotiate like a demon, you can take advantage of every basis point.
If you feel like they were being kind to you, they were making money on the deal that you had no clue about.
Posted on 2/18/26 at 9:49 pm to Ramblin Wreck
quote:
No more escrow accounts for me.
Never understood them.
You're responsible enough to finance a home, but lack the discipline to pay your taxes and insurance?
Posted on 2/18/26 at 9:50 pm to Ramblin Wreck
That OP made me so anxious. I’m legit sorry that happened to you.
This post was edited on 2/18/26 at 9:51 pm
Posted on 2/18/26 at 9:55 pm to Ramblin Wreck
This is one reason I pay my own property taxes, insurance, and HOA. My mortgage is just that, only mortgage.
Posted on 2/18/26 at 10:02 pm to Ramblin Wreck
quote:
No more escrow accounts for me.
Posted on 2/19/26 at 2:16 am to Ramblin Wreck
Just wait until they adjust your monthly escrow to cover the shortage and the increase. Thought you were mad now....
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