Mortgage escrow account statement lists a surplus balance in account after reassessment of our propety taxes resulted in a refund from the state being deposited in the escrow account. However, the mortgage was included in a Chapter 7 bankruptcy in 2008 and mortgage was not reaffirmed. Mortgage lender says regulations prevent refund of escrow surplus unless we reopen the Chapter 7 and reaffirm the mortgage first. I can find no information if this is a federal regulation (loan is issued by FHA). Is it a PNC round-around, strongarm tactic to get us to resume liability of the debt? Is this legal?
Answer
I believe their view is improper. An attorney can assist in using the proper means to request that they document the regulations on which they claim to rely.
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