the red tape

Ok...follow me through this one...

On January 3, we refinanced the house. The Town got a tax payment as part of that deal. But, on January 2, The Old Bank sent a tax payment as well. The Old Bank made the payment, as is customary, by sending the payment from my escrow account to TransAmerica and then TransAmerica makes one big payment to The Town.

So The Town got paid double, and we are owed one of those payments, as we have started a new escrow account with the new mortgage.

Where, you might ask, is the refund?

On February 18, approximately six weeks after receiving it, The Town sent it to TransAmerica.

On March 21, four weeks after that, TransAmerica sent it to The Old Bank.

The Old Bank says that it can take sixty to ninety days after the check enters the system to process the refund.

So we can expect payment sometime between the first of June and the Fourth of Freaking July. Everyone's making money on the float except us.

Posted by volfie at April 4, 2003 01:10 PM