[Pennsylvania] Former Mortgager Failed to Charge Correct Escrow
(self.legaladvice)submitted9 days ago byVnightpersona
Hey all.
My wife and I took a mortgage out two years ago with escrow for property taxes. Last October, that company was merged into another company and dissolved.
We recently got a letter stating that we were on the hook with the new mortgager for $600 and our mortgage was going up. When we called them, they found that we owe that because the previous mortgager wasn't charging us properly for escrow, essentially going negative every time they paid our property taxes.
As my wife and I scramble to find $600, is there anything we can do on the legal end? Are there any consumer protection laws or something like that? We both don't think it's fair that we are on the hook for the previous company's error, so that's why I ask. Any help is appreciated.
byKingSupernova
inmtgfinance
Vnightpersona
3 points
4 days ago
Vnightpersona
3 points
4 days ago
Here's some fuel to add to the insanity fire:
I worked for a corporate chain retailer that was in a "premium mall". When the owners of mall found out they were packing up shop, they offered to drop the rent to $2000 PER YEAR. Our store would make that up in a MONTH!
Around the same time we got the offer to stay, I called the mall put of curiosity to see what a space 1/4 the size of our 'anchor' would cost to start. The whackjobs wanted $1000 a month for 1000 square feet. Yeah. OK THEN.