Starting in 2003 First Horizon Home Loans started raising my monthly payment, claiming an escrow shortage. In January, 2004 I recieved my annual tax statement. Looking it over very closely, i noticed some stange figures and contacted my lawyer. All he could do was to say "I don't see what you mean".
I tried again and again to explain to him that my payment went up last year from $915 (rounded to the nearest dollar to keep this report simple) to $955, and that the extra money was to go into my escrow account. Well he just ignored this and did nothing to check it out. I made the payments and went on with my life as usual.
Later that year I recieved my annual escrow statement and again, my payment went up. Looking at the back of the statement shows the last years escrow history. I could see that something was not right. The payments to my escrow account were shorted by $40 per month. This money was placed into a suspence account. Again I coplained to my lawyer and he pretended to not understand what I was talking about. I told him again that my escrow was shorted the $40 per month and asked him to find out why. He still did nothing.
The following year I recieved my escrow statement and again my payment went up because First horizon was claiming an escrow shortage. Now my monthly payment was to be $1125 per month. I finally got through to my lawyers pea brained mind that something was wrong. So he asked for an audit spreadsheet from first horizon.
When we finally recieved the spreadsheet, we went over it with a fine tooth comb. I now had proof of the scam that was perpetrated against me. This mortgage company raised my payments, and placed the payment into a suspence account. Then behind my back, applied the year before amount towards my account leaving the balance of the funds in the suspence account. This money was to be placed into my escrow account.
They continued to do this month after month for three years until they had hidden enough of my escrow money to make themselves an UNATHORIZED payment, taking both P&I. They did this again a few months later.
My lawyer must have told them that I was on to them because the next escrow statement I got my new payment would go from $1125 down to $977.
Go figure.
This however did not stop First Horizon from comiting this fraud. all payments after that continued to short my escrow.
My bankruptcy fail due to the theft of my funds and inflated payments, and the house was sheriff saled on 8-10-2007. No one bid on it and the mortgage company was forced to buy it.
LISTEN UP PEOPLE. Check your statements and be sure your money is not being misapropriated by First Horizon (or any other mortgage lender). They stole my home and my money. don't let them get yours.
Driver2
Birdsboro, Pennsylvania
U.S.A.