Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-26-2010, 12:23 PM
 
1 posts, read 1,606 times
Reputation: 10

Advertisements

We refinanced about 2 years ago with the same lender, Chase. Everything was done over the phone, and emails. We were told when and where to go for the closing, and received the final paperwork by fedex that day. One year later, we find out that the agent failed to include several taxes in our escrow. Our payment went up 350.00 a month for six months to make up the difference. When talking to Chase, they said I must have 1500.00 additional in our escrow at all times, even after all taxes have been paid. I have never heard this before. So, now our payments are nothing that they quoted when they pressured us to refinance. We should have left things alone. Is this true? is there anything we can do about their paperwork error?
Reply With Quote Quick reply to this message

 
Old 12-26-2010, 12:37 PM
 
Location: with my mom
66 posts, read 117,728 times
Reputation: 58
Quote:
Originally Posted by mudball5 View Post
We refinanced about 2 years ago with the same lender, Chase.

you lose.
Reply With Quote Quick reply to this message
 
Old 12-26-2010, 03:38 PM
 
Location: TX
2,015 posts, read 3,519,758 times
Reputation: 2171
Sounds like it's just a temporary shortage you'll have to pay a little extra for, eventually your payment should go back to about where it should be. Personally I got tired of all the shortages/overages on escrow and opted to put 20% down on my current home to avoid escrow all together. It's such a PITA.
Reply With Quote Quick reply to this message
 
Old 12-26-2010, 04:41 PM
 
239 posts, read 638,847 times
Reputation: 349
Quote:
Originally Posted by kreeyax View Post
Personally I got tired of all the shortages/overages on escrow and opted to put 20% down on my current home to avoid escrow all together. It's such a PITA.
ITA. I'll never, ever again allow any mortgage company to dictate my escrow account. I handle it myself, I get to keep the interest on the account, I get to ensure that payments tax and insurance are made on time. And there's no game playing with the balance.
Reply With Quote Quick reply to this message
 
Old 12-26-2010, 08:21 PM
 
958 posts, read 2,572,994 times
Reputation: 827
Yes, never have an escrow account.
Reply With Quote Quick reply to this message
 
Old 12-27-2010, 08:09 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,730,475 times
Reputation: 4190
When you refinance the only number you look at is your mortgage payment, your tax and insurance escrow should be the same. If he just showed you a new, lower payment amount that didn't include all the taxes then you got hoodwinked and I suggest you pay more attention to your paperwork next time around.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top