Mortgage -- Trouble during payment process -- Complaint #5536113
Complaint Overview
Complaint ID: 5536113
Company: Truist Financial Corporation
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: Maryland
ZIP Code: 21230
Date Received: 2022-05-03T12:00:00-05:00
Date Sent to Company: 2022-05-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Received a notification from Truist today that my mortgage was increasing by {$710.00} ( which is a 24 % increase ) starting in less than 30 days. They state that this is due to the fact that the escrow account is overdrawn due to property taxes. We paid our first year of property taxes and our homeowner 's insurance as part of our closing cost. In addition, we have been paying {$1000.00} in escrow each month. There should be plenty of money to cover property taxes as we have lived in the property for only a year and have provided XXXX in escrow funds. When I called them to ask for clarification, they stated it was possible the property taxes were paid twice ( at closing and by Truist ). They noted it was my responsibility to figure out how to get the money refunded. When I asked them what I should do regarding the additional XXXX I would owe each month, they stated I could ask customer service to lower the payments but implied I would ultimately be responsible for covering the additional cost while the refund was sorted out. They made no attempts to reconcile the morgate payment increase difference while the account was being investigated. This mismangament of our escrow account is predatory.
Frequently Asked Questions
What is Complaint #5536113 about?
Complaint #5536113 was filed against Truist Financial Corporation regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-05-03T12:00:00-05:00.
How did Truist Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.