Consumer complaint received 2019-08-26
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: FIFTH THIRD FINANCIAL CORPORATION (FL)

In XXXX of 2018 my monthly payment increased by around {$450.00}. Then again the next month and after that. When speaking with 5/3 it took quite a few transfers to find someone to shed any light on this. A woman finally told me that my escrow was around negative {$4000.00}. I was shocked and couldn't understand how, because I had never missed a payment and had a fixed rate mortgage. My taxes did increase when the home was reassessed after I purchased and applied my homestead exemption, but my mortgage also increased, which I always paid. 

I asked them about a letter I had received around XXXX of 2018 from my Homeowner 's Insurance being cancelled due to non payment. When I called my Homeowner 's Insurance company, they said it had just been paid and to disregard the letter. 

It turns out that after pressing the 5/3 representative about the missed/ late Homeowner 's Insurance payment she discovered that 5/3 paid the bill twice within a matter of weeks. It turns out it's my responsibility to recover the over payment and return it to 5/3 bank. I did call the Homeowner 's Insurance and was issued a check, which I took to 5/3 bank but they're branch representatives are not very familiar with their mortgage and especially not their escrow departments. I thought it would be very simple to pull up my account and see any discrepancies. The woman I talked to was very reluctant to give me any information and even refused to admit that it was a mistake to pay the Homeowner 's Insurance twice. I was told that an escrow analysis would be done at the end of the year! 

At the 5/3 branch the woman I sat for hours with, never actually spoke with anyone over the phone, she could only contact them through online chatbots. While I was waiting, two more customers were in the lobby complaining about escrow problems. I started to feel like this is very common with 5/3 bank. They wanted me to deposit the whole check, even though it was for more than the remaining balance of the shortage. I decided to take the check and keep the money instead of continuing to overpay each month AND give them the check and HOPE that when they finally did an escrow analysis that I would finally get my money back. 

I was told by the woman at the bank that I would be contacted by phone by someone from the escrow department within 5 business days. I was never contacted by phone. I only received a letter confirming that I would still need to continue to pay the extra money. They did reduce it but it would just be spread out over a longer period of time. 

I KNOW that 5/3 is COMPLETELY responsible for this debacle. I have had to put off paying other bills to keep up with higher mortgage payments. My credit has been harmed by this to the point that it will take me years to repair with absolutely no sympathy from this company. I'm POSITIVE that people lose their homes due to this type of irresponsible " accounting '' for lack of the correct term. It will be a miracle if I can ever straighten this out and be refunded the money that I have overpaid WITH interest. I pray that a more responsible mortgage servicer acquires my account. 5/3 does NOT belong in the mortgage industry.