Lawsuit Investigation: Is Your Lender Paying Interest on Your Escrow Account?

September 26, 2018

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At A Glance

This Alert Affects:
Homeowners living in certain states who are required to pay money into escrow accounts as part of their mortgage agreements.
What’s Going On?
Attorneys working with ClassAction.org are investigating whether mortgage lenders are complying with state laws that require them to pay interest on money held in escrow accounts. Citibank has already been sued in California for allegedly failing to pay out this interest.
Which States Require Interest on Escrow Accounts?
California, Connecticut, Iowa, Maine, Maryland, New York, Minnesota, Oregon, Rhode Island, Utah and Vermont.
How Would I Know If I’m Earning Interest?
This interest should show up on your end-of-year mortgage statement. Attorneys working with ClassAction.org are willing to review these statements for you, at no cost, to help determine whether your lender is paying out interest.
What You Can Do Now
Fill out the form on this page and one of the attorneys handling this investigation may reach out to you directly. It doesn’t cost anything, and there’s no obligation to take legal action if you find out you’re not getting the interest you’re legally entitled to.
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