Wednesday, April 15, 2009

Investor notice: American Escrow

City to assist those bilked by American Escrow
Wednesday, April 15, 2009

The city of Pittsburgh will allow property owners bilked by Chicago-based American Escrow LLC to make late property tax payments on an installment plan, without charging interest, "on a case-by-case basis," city Treasurer Margaret Lanier said yesterday.

The city has no way of knowing how many property owners are affected, she said. Affected residents should call the city Real Estate Division at 412-255-2525.

American Escrow received money from property owners and held it to pay their taxes and insurance, but then stopped making those payments and drained its accounts.

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