San Francisco, California

I just had recieved a letter stating I was late on my September & October mortgage payments and to call Flagstar Bank ASAP to discuss why I was late!!! Well in a nutshell Flagstar decided to increase my monthly mortgage payment by $507.00 due to they told me that they had miss calculated my escrow account aftwer I have been with them for a year and half!!!

I was just amazed at the poor customer service and how they think I'm so *** and to think I'm going to pay them the additional cost when it was their mistake!! and also I have a 30 year fixed rate!! I will be contacting the consumer affairs and whoever else I need to due to I had a contract with Flagstar Bank and I never consented or approved them to increase my monthly mortgage payment!!!I can't believe what a bunch of crooks Flagstar is and want everyone out there to know what type of a business they run!!! I told them that I could pay me taxes, flood insurance, and homeownwers on my own and don't need a babysitter to watch my money!!

Also they are basically ripping me off by increasing my monthly payment to $507.00 per month when they already have aproximatley 350.00 in the escrow impound account!!! Do the math that would be $857.00 they would be taking from me !!! My taxes, flood insurance, and homeowners totals at $6,613.00 per year!!! Flagstar Bank would be collecting $10,284.00 !!!

which is $3,671.00 that they are stealing from me!! not to say also they are'nt honoring their agreement with me on the original loan!!

So if anyone out there has encountered this type of problem I would like to know and also what has transpired. Thanks Bo Viescas

Product or Service Mentioned: Flagstar Bank Mortgage.

Do You Have Something To Say ?
Write a review


You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment

Don't know what you are able to do with this but I hope that you were advised of how loans work. Fixed rate = your principal and insurance payment.

Escrow can fluctuate depending on your taxes and insurance amounts. Taxes and or insurance goes up then so does your payment. Mortgage companies don't eat the cost of your increases.

I have had the same type of thing happen to me at other mortgage companies too. Pretty common.

Alexandria, Virginia, United States #631493

I just love how Flagstar sends out the escrow analysis on 3/25 and tells you the lump sump deficiency is due on 4/1. It arrived in my mailbox on 4/1. Even if I paid online, it would post on 4/2 because it was after 7pm.


Yeah essentially same xperience, this bank is very obstinant.


I had a similar issue with Flagstar this year. In January I was granted a loan mod that basically refinanced me to a lower rate paid my late fees and escrow shortage.

I had to make 3 trial payments on time of my new payment amount for the mod to be completed. After making my payments the mod finalized and my account updated and showed I was current in July. I made the Aug payment on time but after a couple of weeks I began receiving calls that my payment was late. Upon calling I was told that I made a partial payment, that my payment amount is $987 and the payment I sent was for $915, four dollars more than the actual modified amount.

Flagstar said that in May I had a payment increase due to an escrow shortage. I explained that could not be accurate I just completed a mod and the escrow account was brought up to date as part I the mod. The actual amount they claim was short was the actual amount my mod documents showed as being paid.

After calling every 72 hours to get an update because that is what I was told the management gets to update each file when you call today I was told Flagstar has been experiencing escrow issue with a lot of their accounts by a loss mitigation rep named Anitra.

My payment amount in the automated phone system and online has been restored to the 911.59 that it was supposed to be. While that is good news the bad is I still show a month late because of the "partial payment" in Aug.

Anitra told me this should be resolved by Wednesday, we will see. I do not know if what I said the previous time I called had anything to do with my results but I did tell the rep if I could be given some progress information on my file when I called today I would be forced to seek legal advise on what to do as I was starting to receive Flagstar's foreclosure letters.


This happened to me too. I am trying to find out what I can do about it, as they are pretty much telling me "too bad".

I have been paying 170.00 more for 2 years. I tried the loan mod and was denied because I am self employed.

to Romeebear Columbus, Ohio, United States #587567

I am going through the same thing in march we modify our home made are paynments ontime and we was still getting foreclosure papers just here recently we receive a letter from a attoney saying flagstar said that we was 4 months back on are mortage which is a lie we had to fax are receipt to the lawyer that they hiring customer service is rude they kept telling us that the computer wasn't updated yet this is why we was still getting the letters they are crooks and we would love to be in on a suit they have now transfered are account to another finecial company

You May Also Like