Legal Question in Real Estate Law in Texas

Escrow shortage

My mortgage company is increasing my monthly payment by more than $460.00 per month. This is the second year in my home. The first year, they failed to escrow for school tax ($1463.72), and they escrowed the wrong amount for insurance ( $300.00 instead of $826.00). Though I realize I'm liable for the taxes, the increase is unbearable. Do I have any legal recourse? Afterall, it's not my responsibility to know what to escrow or how much, is it?


Asked on 8/20/02, 10:50 am

1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.

Re: Escrow shortage

Well actually it is your responsibility. You are liable for the insurance and the taxes. You should verify that enough is escrowed to pay those liabilities, or expect to have to cough up the following year. The mortgage company is not going tospend there money to pay your obligations without charging you for it.

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Answered on 8/20/02, 2:22 pm


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