National City Mortgage Complaints - Holding funds after 60 day of closing
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National City Mortgage
Posted: 2009-01-02 by Tim Adams



Holding funds after 60 day of closing

Complaint Rating:
Company information:
National City Mortgage
1406 Mary Ct
Keller, Texas
United States
Phone: 817-337-5767

I closed a loan on November 4, 2008 and our loan was fully funded 2 days later. As part of our closing we were required to pay off our Taxes, then National City Mortgage would refund us the amount that we had in our Tax Escrow account (a little more than $5000). The law states that the Mortgage company must settle all accounts within 30 days, so we waited until mid-December and when we haven't received our check we called. The customer Service Rep said that our Check was just sent (December 15th) and we should get it within a week. I asked if they could sent it Next Day Air (at my expense) and they said they would.

Christmas came and went, no check, New Years came and went, no check. I called today Jan 02, 2009 and the customer Rep said that the check was printed on Wednesday.

The customer service rep admitted that they are in violation of the law, but I pointed out that I have been lied to on several occasions, that the check was " in the mail" and that they would send it "next day air".

I am going to pursue legal avenues but wanted others to be aware.
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