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Author: legalwordwarrior Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 897023  
Subject: Re: Paid off mortgage tales Date: 10/3/2012 11:48 AM
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For a number of years, we had to resubmit insurance coverage every year. They would claim it was never sent, and try to force us to pay for their overpriced useless insurance.

We get a statement concerning our escrow every year that says Chase is required by law to keep $X dollars in the escrow account. I checked it out and the law actually says that they are not allowed to keep more than $X dollars in the escrow account. It's a nit picky thing I'm sure, but if you multiply that extra cash by every account they manage, they're making some sweet money off that little interpretation.

Oh, and the insurance? Every year we have them direct bill our insurance company, and then they tell the insurance company that we have to pay for one of the coverages, and usually about a month after we pay it, the insurance company cuts us a refund check because Chase ended up paying for it anyway.

Can't wait to get rid of them, but I don't want to refi just to do it.

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