What to do if my mortgage company is saying I owe them an additional $300 a month for a mistake they made on my escrow?

My mortgage company messed up on my escrow account and now say I have to pay them in full the shortage amount or my mortgage will go up by a ridiculous amount. They admit they made a mistake on my account when they took over. I asked them if I could submit to them their previous refund check they sent me and they said it would not affect anything. Is this possible?

Asked on February 29, 2012 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

The best way to resolve the dispute that you are writing about is to have the lender for your mortgage to send to you a letter setting forth in detail the basis for the mistake and then you provide the letter to a real estate attorney to assist you as well as a copy of the entire escrow file for review.

The problem that I see is that if there is a problem on the monthly amount as to the $300, the lender signed escrow instructions to the contrary. If there is a problem, then possibly the escrow company should be responsible for rectifying the problem that you are writing about, not you. From what you have written, I would not sign anything new with the lender before you consult with a real estate attorney.


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