We closed on our home in April 2016. We were told our payment would be 1595.00 but months later it was raised 200.00 a month due to escrow shortage. It turns out that our property taxes are a lot higher than they said they would be. We feel like we were tricked into a mortgage payment that wasn’t real. Is there anything we can do about this situation now? We never would have bought this home if we knew the payment would be this high.
1 Answer from Attorneys
Most likely the assessment of the housewasn;t beingincreased as much as it actually increased in value. Then when the house sold the true market value became known. So the assessed value was changed. At best you can challenge the assessment.