Carrington Mortgage Mortgage Complaint

FHA mortgage Loan servicing, payments, escrow account

Carrington Mortgage Mortgage department,

FHA mortgage Loan servicing, payments, escrow account New Mexico

Carrington Mortgage bought my loan about 3 mo ago from - - -. It is a - property. With escrow etc it comes out to - monthly. I found out my insurance company had increased my policy by 3 times the amount in -/-/-. This brought my escrow account to - negative. I cancelled that policy effective - -. And started another policy that is 3 time less. With no warning or chance to pay the negative escrow Carrington just sends me a bill for my new payment of - mo. On a - property that only has - yr taxes. They want and escrowed amount of - mo. I have called them twice and now emailed them in reference to this. Their agents tell me it is an escrow cushion. They are asking for - year escrow and my property taxes are - and my insurance is - yr. I told them I wish to pay the negative escrow not to raise the payment. Even with the old insurance amount, negative escrow, and taxes they are still asking for an additional - in my escrow account. I sure can not afford to have my monthly payment increase by - just like that!!!

Carrington Mortgage customer in New Mexico
Jun 26, 2015

* Source: CFPB Complaint Database

Carrington Mortgage response to complaint:
Closed with explanation

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