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What do i do when a mortgage account is showing up on my online banking when i only cosigned i have BOA and the loan is with a carrier through BOA I'm not the primary can escrow fix this?
Wiki User
∙ 13y ago
You cosigned the mortgage. If the are now taking the money out of your account to pay the mortgage, it means the other people are no longer paying their mortgage.
First: You should contact the other people and see if they actually are skipping payments. If they are skipping payments, then since you cosigned the mortgage the bank will take the money from your account to pay the mortgage.
Second: If they are paying the mortgage, you should contact the bank and find out what is wrong.
Third: No. Escrow will not fix this. Escrow serves a totally different purpose. It is a way to spread out the taxes over a year's time. 1/12 of the years taxes and insurance are put into an account.
Wiki User
∙ 13y ago
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