Legal Question in Real Estate Law in Indiana
My escrow account on my mortgage has a overage of $4028 due to an increase in payment last year that to find out was not needed to cover my escrow payments, taxes, insurance and cushion of 17%. I contacted them in July 2008, to see if they could find out at that time why my payment went up $200 per month. They said I needed to wait until an escrow analysis was completed in 2009. It is now complete and they owe me $4028. I am currently 2 months behind on my payment due to struggling to make the payments at the increased amount. If I do not get my loan current, they are going to hold that money until next year 2010. Can they do that? Even if all of this started with their error.
1 Answer from Attorneys
what does your loan note and mortgage say about their rights? You might want to send them a qualified request for information about your mortgage.
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