What do I do?


#1

Have an SA signed and notorized. Mortgage in STBX name and deed in mine. Have been making mortgage payment on time and in full. Last month STBX refused to allow mortgage company to pay homeowners insurance premium out of escrowand says I have to refinance (not in the SA). Because mortgage in STBX name he has to give permission if company that holds policy is changed. What can I do other than get a policy myself. If I do purchase a separate policy the mortgage company will refund to my STBX the overage in the escrow account at the end of the year. WHAT CAN I DO???


#2

Unless the SA requires him to pay the insurance out of escrow it appears as though you will have to get your own policy.


#3

The mortgage is set up so the taxes and homeowners insurance be paid out of escrow. The SA states I will assume the trust in deed and pay it according to its stipulations. Does that make a difference?


#4

It would seem then that the terms of the mortgage are incorporated into your agreement, and you may have a breach of contract action.