Consumer complaint received 2024-10-16
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: M&T BANK CORPORATION (IL)

In XXXXXXXX XXXX XXXX I purchased my brand-new Home In XXXX XXXX Illinois under the pin XXXX XXXX, This home was built and assessed for taxes by XXXX XXXX treasures office along with 2 other properties ( total 3 properties ) which were identical to mines. Since my property was the address owner of the pin/property the bill for all 3 properties were sent to me and my lender for payment. Which my lender at the time paid in full 2nd installment which was due XXXXXXXX XXXX XXXX The total amounts of this tax bill was just over {$19000.00}. Of that {$19000.00} should have been split 3 separate ways amongst myself and the 2 other property owners ( my neighbors ). My neighbors paid their portion of the bill late XXXXXXXX XXXX XXXX. And essentially, I had to wait for a refund to repay the tax escrow into my mortgage due to it being overly inflated and over estimated amount of taxes. This refund came in the amount of estimate XXXX In XXXX of this year. Which the same occurring month I paid XXXX into the escrow. Of this refund this was only the 2nd installment refund and myself and case manager who works for XXXX XXXX office has been handling the case agreed that I am owed a second refund in the amount of {$1200.00} which I have updated my mortgage company constantly about. He also attempted to personally call the mortgage company to reach some understanding, and he too agrees they are overestimating my escrow somehow. XXXX XXXX at XXXX XXXX XXXX XXXX is very familiar with the situation and can be reached for any additional questions at : XXXX XXXX XXXX XXXX Since then my mortgage was purchased out by another motgage company M & T bank in XXXXXXXX XXXX XXXX My mortgage total including taxes payment was estimated for around {$2500.00}. XXXXXXXX XXXX XXXX, the new mortgage company sent me a bill saying that my monthly payment was going up tremendously to {$3600.00} a month which is totally not within my agreement and completely unaffordable for my budget. This increase is solely due to the overestimate of taxes being appropriated in the account and they are assuming the taxes to remain at {$19000.00} for just my property which it is not. Out of good faith, Even though this has occurred, I have paid partially the owed taxes back from county, They continue to not work with me on this matter and correct the escrow shortage or make some type of agreement. Due to the expected and acknowledged refund from county, the mortgage company consistently accepted payments of my principal amount and insurance which is about {$2300.00}. Not including the taxes estimate or escrow shortage that they estimate me at which is the {$3600.00}. I have continuously been paying that amount ( {$2500.00} ) awaiting for the refund from County in order to rectify the situation and discover exactly how much my escrow is short and if indeed they are over estimating the amounts. XX/XX/XXXX through XX/XX/XXXX I consistently made the payment amount until this year XX/XX/XXXX They refused to accept that payment, and they stated they needed the {$3600.00} in full regardless of partial payment and no payment plan although I am still awaiting my additional refund from the County Assessors office. Being aware of such they claim when they acquired the load/account there was already a shortage on the escrow of {$14000.00} which can not be true. I did not purchase until XXXX and the taxes are sent the following year for the year prior. And not the shortage has totaled somehow to around $ XXXX even though the only bill I have received was for the {$19000.00} in which I paid {$11000.00} of and been continuing to pay towards the shortage awhile awaiting the additional refund. On top of that since they have been forcing me to pay the full amounts I am falling behind and can not simply afford these overages of estimated tax payments all while awaiting a refund from the County. They refuse to assist or prolong escrow payments or do something to assist or mitigate these circumstances. Please help. 

My mortgage account # XXXX