O
Oriole
Guest
What is the name of your state? What is the name of your state? Maryland
My husband and I bought a house last year in the state of Maryland. We received an exceptionally low interest rate as an incentive loan to keep teachers in the state of Maryland. At closing, no one seemed to fully understand the "rules" of our loan, including us. A month after closing, the mortgage company called to tell us that we needed to pay an extra $15.oo a month on our mortgage payment in order to cover the cost of our home owners associate fees, which were to be paid as part of our mortgage payment. We agreed. In March, when our home owners association fees were due, no one at our mortgage company knew about the payment. We paid out of pocket, and the mortgage company agreed to credit the payment to our escrow. This was never done. We now have called to ask why this was never done, and after a year, they are telling us that we owe them $950.00 because we did not pay enough taxes at settlement and there is not enough money in escrow. Yet, we have never received any notice about this. We would like to get a lawyer, but know that the fees will be equal or greater to amount the mortgage company wants from us. Are we liable for this amount, even though it was their mistake? Should we get a lawyer?
Thanks,
Oriole
My husband and I bought a house last year in the state of Maryland. We received an exceptionally low interest rate as an incentive loan to keep teachers in the state of Maryland. At closing, no one seemed to fully understand the "rules" of our loan, including us. A month after closing, the mortgage company called to tell us that we needed to pay an extra $15.oo a month on our mortgage payment in order to cover the cost of our home owners associate fees, which were to be paid as part of our mortgage payment. We agreed. In March, when our home owners association fees were due, no one at our mortgage company knew about the payment. We paid out of pocket, and the mortgage company agreed to credit the payment to our escrow. This was never done. We now have called to ask why this was never done, and after a year, they are telling us that we owe them $950.00 because we did not pay enough taxes at settlement and there is not enough money in escrow. Yet, we have never received any notice about this. We would like to get a lawyer, but know that the fees will be equal or greater to amount the mortgage company wants from us. Are we liable for this amount, even though it was their mistake? Should we get a lawyer?
Thanks,
Oriole