Legal Question in Real Estate Law in Georgia

We purchased a home from an older couple who was exempt from paying school taxes. We are not exempt but the law firm that handled the closing did not check for exemptions so they reported the taxes that the older couple paid as our "estimated taxes" to our mortgage company which we became aware when we received our taxes this year and saw that it was doubled. Our escrow balance is now negative and in order to catch up we will have an immediate increase of $130 a month and then a little less as we catch up. Is there anything we can do?


Asked on 9/26/12, 8:46 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

You are at fault in this case. When you buy a home, it is ESSENTIAL that you hire your own attorney to review paperwork and advise you (the closing attorney represents the lender and thus has an adverse interest to you.)

And the mistake did you no legal harm. You came out ahead for all those months until now, and are paying what you should have. In fact you got an interest free loan from your bank, so you benefited by what you see as a problem.

You pay what you owe, and in the future monitor your escrow.

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Answered on 9/26/12, 8:55 pm


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