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Old 06-08-2012, 01:11 PM   #1 (permalink)
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Join Date: Jun 2012
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RE-escrow

My mortgage co demanded that I pay my RE taxes to them and they put it into an escrow and then pay the NYC finance dept.

However, they now say that the last two re tax payments were not received by them. Jan 2010 and Feb 2010. Therefore, they say that they took my mortgage payment and used it to pay the finance dept.

Therefore, I am late one month behind in my mortgage payment and for every month since 2010 to present!

Can they do this? Maybe my RE tax is late(they never advised me that it was) but I have never missed a mortgage payment.

And now they want $100 late payment fee per month since 2010 total, $4000.

Please advise.

****
dick2000 is offline  
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Old 07-25-2014, 07:57 AM   #2 (permalink)
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Unless you agreed to a term authorizing your mortgage broker to divide your payments to a real estate escrow and toward the payment of your principal, it is advisable to speak with a real estate attorney to determine whether the mortgage company can collect forty months of late fee penalties for not paying a RE tax. http://www.legalmatch.com/real-estate-lawyers.html
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