K
ksfolden
Guest
What is the name of your state? Washington
I closed on my house in December of 2001 and made first payment in February of 2002. Financed 30 yr. fixed rate. My mortgage company sold mortgage to another bank. When I received statement from new mortgage holder, my payment had increased $250 per month. I was already in an uncomfortable mortgage and this just escalated that discomfort. When I called the original lender to ask what happened I was told that my taxes must have increased. I said not that much!! I called the tax assessor's office and found out that they had increased $170 for the entire year equating to about $15 per month. I then called the Title company that closed the loan and discovered that the lender had mis-calculated my taxes to be paid annually instead of semi-annually. This made my escrow account go into a deficit when disbursements were made in April. This bank error has significantly impacted me. I have had the house on the market for ten months now and now am considering a short-sell of the property. The lender just says there is nothing they can do. This mistake was not my fault, but I am the one holding the bag. Is there anything I can do? I think they were negligent and this was not a tiny mistake they made on the truth in lending statement. Help!!
I closed on my house in December of 2001 and made first payment in February of 2002. Financed 30 yr. fixed rate. My mortgage company sold mortgage to another bank. When I received statement from new mortgage holder, my payment had increased $250 per month. I was already in an uncomfortable mortgage and this just escalated that discomfort. When I called the original lender to ask what happened I was told that my taxes must have increased. I said not that much!! I called the tax assessor's office and found out that they had increased $170 for the entire year equating to about $15 per month. I then called the Title company that closed the loan and discovered that the lender had mis-calculated my taxes to be paid annually instead of semi-annually. This made my escrow account go into a deficit when disbursements were made in April. This bank error has significantly impacted me. I have had the house on the market for ten months now and now am considering a short-sell of the property. The lender just says there is nothing they can do. This mistake was not my fault, but I am the one holding the bag. Is there anything I can do? I think they were negligent and this was not a tiny mistake they made on the truth in lending statement. Help!!