my mortgage does not have a escrow , i pay my own taxes . this year i appealed the assessed property taxes of my home with the county and was told that i should pay them and wait for a hearing date and possible partial refund . was also told that not paying the taxes on time i was risking a interest penalty by the county if my taxes were not adjusted. all this i understood and was willing to risk . ( i prefer to aurgue when the money is still in my pocket ) .
enter the mortgage company with a threat to pay them and escrow me . i advised them that i had a petition to appeal the tax and was awaiting a hearing and that based on the hearing outcome i would pay my taxes and penalties that may be assessed . i followed with a letter stating this as well as my reasons and a summary of argument i would be presenting the county . i asked that they not pay my tax bill as it would hinder my position to argue and that i had the means to pay and would do so after my hearing .
6 weeks later they have paid my tax bill and have created an escrow to collect that money as well as the next years ridiculous tax bill (they assume its them same even though at the time they paid the first one my projected property value was half . they claim they never had a correspondence with me six weeks prior and that no letter was received by them . they say they have a right to establish escrow ( i don't dispute this ) to keep the liens off the property ( in my county no lien can be filed till the outcome of a lawful petition ) their reason i do dispute .
Result : my payment has gone up 300% , they are attempting to collect the tax they paid as well a penalties for the past year and next year . they state that the escrow is not negotiable for 12 months even if i pay the short fall ie 10k . i am told that i cannot speak with the tax dept, i cannot speak with the escrow dept . i cannot talk with management and that customer service has no control over an escrow being established and that basically i am screwed .
most people would go into foreclosure if their mortgage went up 300 % , customer service supervisor agreed she could not do it if it was her . i told her that they were limiting my options to legal fight or refi. she said they were forcing nothing on me , but that i was still required to pay a 300 % increase in a escrow i did not have to begin with and that i could speak to no one with the power to do anything about it . they state that even if i pay the short fall the escrow will remain for at least 12 months . In a lot of cases this would force some into foreclosure .
i have faxed them copies of all associated docs prior and current and yet they state the "escrow stays" and there is no one to talk to who can help me . is this really the case ? i have to pay a mortgage that has gone up 300% so they can collect an excessive amount of tax money for the past year and next year when my home has dropped 50% in value ( according to current county projected assessments , though not published yet ) ? i am in south florida were property was ballooned and deflated , there is a home on every block that was foreclosed on and a bank ( acting within there right ) wants another one ?
i dont have the time left to write letters and customer service insists that i am not allowed to speak with escrow dept , tax dept or management . that i must pay a bill for a year that i cannot or default on the loan ? any help appreciated .