Consumer complaint received 2021-12-30
Company: MONEY SOURCE, INC., THE
State: NH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I have contacted this company over 40 times since XX/XX/XXXX. If you read the reviews on this company, The Money Source ( " TMS '' ) they have a XXXX star rating with similar issues to mine. Since XXXX alone I have contacted the company over 10 times, 2x a week. Most recently, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and many more times in between. I have been paying double per month for taxes. I have provided the company in XX/XX/XXXX my correct assessment amount provided to me by the XXXX Assessor 's Office which was mailed to me by them. In XX/XX/XXXX, I provided them with the 2nd/final tax bill for the XXXX tax year confirming I have been overpaying. I have been provided ZERO assistance. I have also even sent over 4 written requests through their TMS portal and emails to their customer service department with never ONE reply back. If you try and get help, you are bounced around to different departments for that department to tell you no, you should be speaking to the other department. I spend 1hr 2hrs on the phone each time with no end result. My escrow analysis requests have been closed more than 3x and no end result. I was finally able to have someone transfer me and get a hold of someone from their escalations team. Her name was XXXX. She confirmed that the escrow analysis requests were previously closed out by others on several occasions with no notes in the system as to why and who did it other than : escrow analysis is not needed at this time. Not to mention, the day before the escrow analysis was supposed to be completed on XX/XX/XXXX, I contacted them and demanded I speak to a manager and was ensured the escrow analysis would be completed on time. I called back the next day to be told the escrow analysis was closed out and is not needed at this time. I have tried speaking to supervisors and managers and can never get one. You will just be told they are too busy. They had estimated my tax payments to be {$8500.00} a year and my taxes are {$5100.00} a year! I have been overpaying hundreds of dollars a month and can not get it back, never mind getting my new monthly payment to be updated to the correct amount. I wish I could have this company no longer handle my taxes, however, this is also not an option because I would need to refinance and now the rates are sky high. I should not have to be overpaying monthly for them to just withhold money for taxes that are thousands less a year and if I do not pay that full minimum payment amount of {$2000.00} then this will affect my credit score. On XX/XX/XXXX I noticed over {$3700.00} had simply disappeared from my escrow balance and is no where to bee found. I did not receive an email, message through their portal, notification, letter in the mail or anything as to where this money has went. It is just simply gone. My payment amount still has not been updated and depending who I speak with I am being told it should be {$1700.00} but is still reflecting {$2000.00} for XX/XX/XXXX. I refuse to continue to overpay this amount per month and have to go through this again for over 5 months to try and get MY money back to me. I am requesting this be investigated ASAP as many others are having the same issue where unethical and fraudulent activity is being conducted through this company. I have no idea what is going on and can not get an answer or assistance from a manager or anyone. XXXX from escalations has been a God sent, but she is only able to assist with the tax payments being updated in their system which she has done. However, the escrow department and customer service department will not do their part in updating my monthly payment amount effective immediately to the {$1700.00} so I can STOP overpaying hundreds of dollars per month in escrow for it to sit there and if I want to ever get my money back, I will have to have them run ANOTHER escrow analysis which took over 4 months for them to get the request put in correctly, and then have to do this ALL over again and hope I even know where my money went. My ask is to ensure I receive written confirmation of where my {$3800.00} check is from my escrow balance disbursement and written confirmation that my payment amount will be updated to {$1700.00} ASAP, not effective XXXX or later this needs to be updated immediately as I refuse to go through this process again with a company that has been illegally withholding thousands of dollars in my escrow account. By law, they can only withhold 2 months worth of escrow payments and they have been withholding an entire year work of taxes for next year, now I dont know where it went. I also want to add my entire XXXX taxes were already paid so this money in my escrow account was excess money just sitting there and yet they expect me to continue to overpay. They need serious training and adjustments to their entire company throughout the customer service department, escrow department, tax department, etc. They all have no idea what is going on and you will get different answers speaking to anyone in this company and never get assistance. I am currently 6 months pregnant and have been dealing with this my entire XXXX. I will be filing a formal company with the court in my City/State and had notified them of this back on XX/XX/XXXX and to date still never received a reply back. I request this company be throughout investigated and also please read all of the reviews about this company as it seems to be a common practice that they do to others. 

I only have {$930.00} in my escrow balance and just last week I had over {$4600.00}. This balance was AFTER my XXXX taxes were paid in full. As of XX/XX/XXXX statement I had {$7700.00} in my escrow balance account. On XX/XX/XXXX my 2nd tax payment XXXX  {$3000.00} was paid leaving an escrow balance of {$4700.00}. As of today, XX/XX/XXXX, there is only {$930.00} in my escrow balance. Therefore, I am missing {$3700.00} that just vanished from my escrow balance in a week. See attached documents for support.

Company response to consumer: Closed with explanation