Los Altos Hills, California
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1 comment

I closed my home with a 1650.00 payment in 2009. 2010, I get a letter saying they miscalculated my property taxes and now payment being raised to 1820.00 (almost 200!?) I have been paying it (barely) for nearly 2 years, even though they said it would be lowered in a year.

Called today to see why it still hasn't been lowered. They said will reassess again in December. I asked why I was approved for 1650.00 and now it's at 1820.00. They said that property taxes "fluctuate".

I have all my statements and nothing has fluctuated. She finally admitted when I closed they made a miscalculation and when my negative escrow is paid, my payment will be 1780.00 from now on. What!? I didn't qualify for that payment when I closed.

That is $130.00 a month more than I agreed too. Is this legal? They made the mistake at calculating my property taxes at $990 instead of $2551 (huge discrepancy). Do I have any recourse?

I am having problems making my payment because of the increase and couldn't get through the loan modification because I'm self employed.

Any advice appreciated. Lisa1342@gmail.com

Product or Service Mentioned: Flagstar Bank Loan Modification.

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Anonymous
#557669

I have been going through an escrow issue since Aug. Finally after speaking with Anitra in loss mitigation today she admitted Flagstar's system has caused escrow issues with several of their accounts.

My payment amount has been restored to the modified amount that went into effect in April 2012. I am still fighting to get late fees returned but atleast I made progress.

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