Legal Question in Credit and Debt Law in New Jersey
Mortgage & Homowner Ins Lapse
On a refinance of a mortgage on our current home, the mortgage company claims there was a 2 month lapse in coverage for the first year of H/O ins. The H/O ins policy was paid at closing($450.00)and H/O ins company was selected by the mortgage co. They claim the actual cost of policy was $538.00 and that the $88 difference caused the lapse. They debited escrow $1494.00 for a 1 yr policy, added it to current mortgage payment and did not credit my Jan 2000 payment, because I sent the reqular amount. I have a current policy. Who's responsible? How do I resolve?
I have repeatedly faxed doc on coverages.
1 Answer from Attorneys
Re: Mortgage & Homowner Ins Lapse
It's going to take alot of time and effort. You need to call them directly and keep asking for "your supervisor" until you get to the person who will listen to the story, review your documents and give you the result. Good luck!
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