increased payment

[butterlady]

What is the name of your state?IN
We bought our home a year ago Oct. with a fixed rate loan through a bank.Someone (I don't know which party involved)made an error on the property taxes.The bank only had 1 parcel # and now we find out there are actually 4 parcels. Jan 1 we received notice our payment was being raised $100 a mo..The next day I got a letter from the county auditors office stating If my delinquent property taxes weren't paid the house was going to be sold.I contacted my bank and they said they had the wrong parcel #'s and would take care of it.Then they would do an analysis and change my payment again.Now they say I have to pay $330 dollars more a month to pay for a mistake that I didn't even make and they refuse to work with me.If I pay these payments(which I can't afford to)I will be paying more for my 1938 built home than most people do for a new one.Also, we had and inspection done before closing and in one room we told the inspector we were concerned with the roof and he reassured us that the leak stain was from the previous roof not the new one on the house.Just 2 months after we moved in we have a leak in that very spot.What can I do about the leak and what should I do about my loan?

[PghREA]

If you own a home and 3 parcels of land, then you owe the property taxes on all 4 parcels. Did you not have a survey or a title search done?

[efflandt]

It sounds like what is being increased is escrow payments, but those should come back down when they get caught up to having enough to pay correct property taxes. But if everything was properly shown on closing papers, any late fees (but not normal taxes) should be the responsibilty of whoever neglected to pay the taxes when due.

Judging my home purchase in 2002 on a double lot, you have to initially keep close tabs on whether property taxes have been properly paid from escrow when multiple parcels are involved. I had no clue that both the title insurance company and a major nationwide home loan company had failed to make proper payment on one lot until I got a notice of tax sale. Both lots and funds transferred to escrow from previous owner for total estimated taxes until time of sale (due following year) were clearly indicated on closing papers.

The title insurance company sent 1st tax installment late (without late penalties), enough to cover lot with home & late fee (paid), but not enough for other lot & late fee (insufficient balance was returned).

The loan company apparently changed their property tax department between 3 different entities during that year, from outside related firm, to internally, to a 3rd party, and somewhere along the way, they only paid 2nd installment taxes for the same lot as the title ins. co. Total taxes for other lot were unpaid for the year.

A week before tax sale, I got a check for amount due for 1st installment from title co., but was getting nowhere with loan co. for 2nd installment, so I paid the tax due in cash myself. Instead of just reimbursing me from escrow for that, they got totally confused by their own investigation, sent me a bunch of money, and did not realize it until following year escrow ended up short. So my escrow payments are higher now until that finally gets caught up this year.

In your case and my case, we are both paying back tax money that was always due, but just paying it later instead of sooner.

[nextwife]

IF the MORTGAGE only covers one parcel (the one with the house), you also have the option of selling one or more of the extra lots.

[butterlady]

We did have a survey done before we closed and all taxes were paid and up to date.Somehow when we closed the mortgage company only received 1 parcel # to pay on.I was at the property when the survey was done.But I don't understand where the 4 parcels are because 1 parcel is where the house sits and the only other property we own is a square pasture.Nothing on it but a barn.So I don't see how they get 4 parcels.I'm going to the county auditor to find out where my property lines are that I have to pay for.Maybe the survey guy was wrong.I still don't know what to do about the leak in the roof.