Legal Question in Real Estate Law in Virginia

Mortgage Escrow Discrepancy
We FHA streamline refi'd our mortgage on 02/01/03. Truth in Lending Disclosure Forms showed total Tax/Ins of $191.00 on this form. The mortgage company two months later (April '03 payment) upped it to $252.00 saying an ''escrow shortage'' of $700.00 was to blame. My insurance and taxes have been going up about 5%/yr and I have managed to keep all payments steady via automatic drafts for the past 5 yrs.

Question: Does this sound like a scam the mortgage company in coordination with my previous lender (who sold my mortgage to the new lender) is running?

I am trying to get a breakdown from the current lender on how this ''shortage'' happened without response thus far.

Thanks

Asked on 3/04/03, 8:05 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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0 attorneys agreed

Re: Mortgage Escrow Discrepancy

Given the facts you have provided, without knowing more, there's no way to answer your question (in my opinion).

Answered on 3/05/03, 12:28 am

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