Monday, March 30, 2009

American Escrow: Out of business, along with our tax and insurance money

We got a letter in the mail today about our savings with American Escrow (pays our property taxes and home insurance), based in Chicago, and it wasn't good news.
They are out of business and have taken our $1,200 -- tax and home insurance money -- along with them.
We did get our last payment back in a check (which I sincerely hope doesn't bounce).
I had trouble with them last fall--we had overpaid our escrow due to falling Indiana property tax rates. I had to complain to the BBB before we got our money back.
I should have read the writing on the wall.
I want to say it's unbelievable, but I can't. It's TOO believable.
We'll complain to the Illinois attorney general, but I think we can kiss that money goodbye, don't you?


  1. Anonymous6:33 PM


    A class action lawsuit has been filed in federal court in Western Pennsylvania against American Escrow and all banks and other lenders that recommended or made American Escrow a part of their closing documents. If you are interested in more information, please send an email to and please include your name, address, telephone, email, and name of your lender.

  2. Anonymous6:54 AM

    I too am a victim in Indiana. Did you also file with Indiana Attorney General, write to Senator Dick Lugar, call the FBI and file a complaint with the Federal Trade Commission? Please do all of those things. I got my letter on 3/5/09 BUT my letter reads differently than the ones sent out later in the month. This is totally unacceptable.