How long can a mortgage company hold onto an insurance refund?

UPDATED: Dec 15, 2011

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How long can a mortgage company hold onto an insurance refund?

My husband and I included out mobile home in bankruptcy 3 years ago. We continued to live in the home in a rent type situation until 2 months ago. We moved from the mobile home into a new home. Our homeowners insurance was escrowed each month. Our homeowners policy was renewed 3 months ago and I canceled it when we moved. Since the insurance funds were escrowed the insurance company sent the refund back to mortgage company who we legally owe nothing to. I’ve been in contact with the mortgage company since that time trying to get our money refunded back to us so far without out success. I’m always told it is in the system for processing but no one can tell me when I will receive the refund.

Asked on December 15, 2011 under Real Estate Law, Virginia


Michael D. Siegel / Siegel & Siegel, P.C.

Answered 11 years ago | Contributor

They cannot hold it.  Something is not right.  Contact the attorney general or state banking department for assistance.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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