HOME LAW INSURANCE

Search      

Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Mortgages, Refinancing & Foreclosure
Reload this Page Escrow Fiescrow!
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read



               


Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 01-23-2008, 06:12 PM
Junior Member
  
Join Date: Jan 2008
Posts: 1
Angry

Escrow Fiescrow!

What is the name of your state? OHIO

I had/have a mortgage with no problems for 14 months. On the 15th month of my mortgage I received by mail an "Escrow Estimate" that incorrectly showed a shortage because my mortgage company updated this information showing my TOTAL ANNUAL PROPERTY Taxes being paid 2x a year instead of half being paid twice yearly. The letter informed me that my monthly payment would be adjusted to cover the shortage increasing my monthly payment by nearly $400.00. This I can't afford.

For the next 3 months I called, wrote letters and sent emails showing the error and received no response nor was the error corrected.

I'm now refinancing to get away from this lender and to keep payments that are affordable. My old lender is charging a prepayment penalty.

Question: Can I recover the pre-payment charge in court on the bases of neglect, Breach of Contract or stupidity? or am I stuck paying this amount in addition to the cost to refinance?
Reply With Quote
  #2  
Old 01-23-2008, 06:46 PM
Senior Member
  
Join Date: Mar 2006
Posts: 4,994
A miscalculation of escrow is not a material breach of a mortgage contract.
__________________
When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it.
--W. T. Pooh (aka A. A. Milne)
Reply With Quote
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump



Find a Lawyer
Step 1:
Step 2:
 
Find a Lawyer
Post Your Case
Post your case and have it reviewed by a highly respected attorney. NO Cost, NO obligation, NO Fees! Get started now »
Get Legal Forms
Download 36,000+ forms »


All times are GMT -5. The time now is 03:02 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top                                        

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.