I signed up for a HELOC, but the terms for me being approved for the HELOC required me to use the full balance to pay down part of my mortgage. The bank worked with an escrow company to ensure that this would happen. The problem is the escrow company sent the money to the wrong account. I noticed the missing funds right away and told my bank about it. They said they would come up with a resolution.
It was a large sum of money and it's been over 6 months since I told my bank about this. They've contacted me every once in a while but I've had to keep bugging them about it to get them to keep trying different methods (they've tried three already). It doesn't seem like they actually know how to recover this money. What can I do to recover this money? It doesn't look like my mortgage company, the escrow company, or the bank want to take responsibility so everyone seems to be dragging their feet.
I wrote the correct account number on my application but the escrow company wrote in the wrong account number. This wrong account number was reflected on a form that I signed. My bank is a federal credit union.