Anonymous
Trouble during payment process: Mortgage
My mortgage servicer, Truist Bank, failed to pay my homeowners insurance premium from my escrow account. My mortgage includes escrow for homeowners/hazard insurance, and I have been making my required mortgage payments including escrow. I received a notice from my insurance carrier stating that my homeowners insurance policy was cancelled for nonpayment. This appears to be a mortgage servicing and escrow disbursement error. Truist was responsible for timely payment of the insurance premium from escrow. Because of Truists failure, I am at risk of a lapse in homeowners insurance, reinstatement fees, increased premiums, force-placed insurance, and other damages. I want Truist to immediately pay the insurance carrier, reinstate the policy retroactively with no lapse in coverage, provide written proof of payment, reimburse or waive any fees or costs caused by the error, prevent any force-placed insurance charges, and provide a complete written explanation and escrow payment history showing why the premium was not paid on time.
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