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Escrow, taxes, or insurance. I provided my mortgage company with a fully paid one year home owner 's policy. There was no bill sent to the mortgage comapny, only a copy of the policy showing it was already paid in full for the up and coming year. Bank of America " system '' does not recognize if an insurnace policy is already paid and if someone has an escrow account it automatically sends out a check for the full year. This should not be allowed. I paid the policy in full in order not to have a negative escrow account balance and have my payment increase. By not having an actual person look at the new policy and automatically sending out " My '' monies in " My '' escrow account they are mis appropriating funds and most importantly wasting my time as they state the only remedy is for me to