Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Mortgages, Refinancing & Foreclosure
Reload this Page escrow problem

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 06-15-2009, 07:50 PM
Junior Member
  
Join Date: Mar 2009
Posts: 2

escrow problem

Im in CA, purchased house in 8/08. My mortgage is now raising my escrow account due to anticipating same amount of property taxes as previous owner which are much higher. what can I do to make them lower back my escrow?
  #2  
Old 06-16-2009, 04:19 AM
Senior Member
  
Join Date: Feb 2005
Location: Elgin, IL USA
Posts: 1,089
What makes you think that your property taxes will be much lower than for the previous owner and how does the amount your lender is estimating compare with 2009 tax (or hasn't that been billed yet)?

Proposition 13 keeping property taxes artificially low can result in signficantly higher tax for a new owner.
  #3  
Old 06-16-2009, 12:48 PM
Senior Member
  
Join Date: Jan 2003
Posts: 19,140
Have you proven to your lender that taxes will remain the same as for the previous owner? If not, then they should have escrow set at the level necessary to cover realistically anticipated taxes.
__________________
Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
  #4  
Old 06-16-2009, 02:31 PM
Junior Member
  
Join Date: Mar 2009
Posts: 2
City gave me a refund in dec 08 due to reassessment of property for year 2008. For year 2009 tax, the city does not send bill til Oct 09, meanwhile mortgage company is still using previous owner tax and will not adjust escrow even after i sent to them reassessment. they want an actual bill from the city. i dont understand?
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

All times are GMT -5. The time now is 01:17 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.