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Loom in the Fannie / Freddie rescue, why does anyone in the mainstream media bring, that the officers of most of the loans have been invited to use sites like http://www.FAKEPAYCHECKSTUBS.com (preparation documentation, which never existed) loan qualify at each stage of the pipeline to the commission of 6 percent they do for the collection of every company – it is not surprising that the economy and the worlds banking system, where it is today?
I recently refinanced my mortgage. The mortgage company received my payment amount with a trust account positive when I asked for the refinancing. Unfortunately, property taxes were paid directly from the re-fi and changed my escrow. The mortgage company does not update the repayment before graduation. and now they say I owe much more than my refinancing loans. What recourse do I have?

3 Comments
  1. Reply
    Sandy J
    January 20, 2011 at 12:50 pm

    May be this site can help you
    http://www.thetechnology.net

  2. Reply
    Froufrou
    January 20, 2011 at 12:57 pm

    I don’t get what you’re saying. Your taxes were escrowed all year. It sounds as though they didn’t escrow enough and now they want you to pay the escrow shortage or else they will tack it on to the new mortgage…?

    The taxes have been paid, per your statement, so they are now wanting the escrow shortage from you. They have paid the taxes for you, on your behalf, and are within their rights to collect it from you, refi or no refi.

  3. Reply
    Bob
    January 20, 2011 at 1:36 pm

    If your previous lender had not paid your taxes when they came due your new lender would have been required to make sure they were paid out of your funds at your closing so you are going to pay for them either way. It is their business to know the timing of your tax and insurance payments, so they should have been able to plan for this and structure your loan so the cash due from you or to you at closing is pretty close to the planned amount. With most lenders it is easy to get escrow information by calling an automated phone system although there are still some that are not so easy.

    The only thing they are guilty of is poor planning so I doubt that taking them to court would be justified or worthwhile. If your new loan hasn’t disbursed yet you can cancel the transaction and ask them to change the loan amount if your equity position and your rate lock have enough room to do so. If it has already disbursed, tell your loan officer/company that you didn’t get what you had asked for and ask them to reduce their fee to make up for the inconvenience this caused you.

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