What should I do if I am having problems with my escrow or impound account?

An escrow account — sometimes called an impound account — is a servicer-held account used to pay property taxes and homeowners insurance in monthly pieces instead of as large bills once or twice a year. Those tax and insurance amounts can change, and the total monthly mortgage payment can change with them.

The CFPB lists warning signs that include a payment change with no notice that taxes or premiums are moving, force-placed insurance the servicer bought and billed to you, and a local-government notice that property taxes were not paid. If taxes appear unpaid, send the bill with a notice of error. If the servicer missed a tax or insurance payment, contact the tax authority or insurer promptly. Unpaid property taxes can lead to a tax lien.

Start by asking the servicer whether the change is a mistake. If taxes were not paid from escrow, or you face imminent foreclosure or have been served with legal papers, the CFPB says a housing counselor or attorney may be appropriate. HUD-approved counseling agencies are listed in the CFPB Find a Counselor tool, and the HOPE Hotline is (888) 995-HOPE (4673). You can also submit a CFPB complaint online or by calling (855) 411-CFPB (2372).