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Can a mortgage company charge you for their escrow shortfall?

  1. Mighty Mom profile image85
    Mighty Momposted 3 years ago

    Can a mortgage company charge you for their escrow shortfall?

    We just got our escrow analysis. Appears the mortgage company paid our taxes late and incurred a $335 fee. That was unnecessary. Now they are charging a $45 a month "escrow shortfall" fee. Excuse me? Who has fiduciary responsibility here? Is it my fault they didn't immediately adjust the escrow when the increased tax bill came in? Why did they not inform us? What recourse do I have??? I don't feel it's fair to make us pay for their negligence. Is it?

  2. lovemychris profile image56
    lovemychrisposted 3 years ago

    No, you should seek recourse immediately! Obviously, you should not be penalized for their mistake.....what gall!

    1. Mighty Mom profile image85
      Mighty Momposted 3 years agoin reply to this

      Hello long lost commiserator. Where ya been? Are you revving your engine for the 2014 midterms? 2016? Specific social issues?
      It's good to have you back in the fold. MM

    2. lovemychris profile image56
      lovemychrisposted 3 years agoin reply to this

      Thanks, MM!The freedom-lovers sure curtail a lot of speech here, but there's always the underground.Midterms are so important...just as important as 2010, I fear.Should TP get in,our daughters rights are truly down the toilet.Dems...Get Out and Vote!

  3. profile image0
    sheilamyersposted 3 years ago

    I agree with lovemychris. The mortgage company is fully responsible for paying the late fees. I don't know what steps you'd have to take to get them to stop charging you the extra fee and repay anything you've already given them, but perhaps someone else can guide you in the right direction.

    1. Mighty Mom profile image85
      Mighty Momposted 3 years agoin reply to this

      Thanks. That sounds right and sensible. I'm just a wee bit concerned. our last mortgage servicer (GMAC) went bankrupt. Not high confidence...

 
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