Loan officers mistake I'm paying for

You can but most likely it is more the lenders fault because they didn't include it on the final documents and HUD. Either way it may be an error and you most likely are responsible for it. You would have either had to pay for the taxes from the loan or you personally. Yeah it's an error but ultimately you are responsible somewhere to pay it. Sorry for the bad news.

The first thing you need to do is take a look at your HUD-1 (Settlement Statement). I find it hard to believe that taxes were not collected for your escrow account, and that is an easy answer for the inbound telemarketer at the 800 number for your current lender, but it is possible. You will need to look on page 2 and it will show you how many months worth of taxes and insurance were collected for. Being that this was a purchase, they should have collected 14 months worth of Hazard (Homeowners) insurance. The number of months collected for taxes would vary depending upon when you closed and when the property taxes are due in your state however, this mistake would typically fall upon the title/escrow company as they are obligated to provide the tax certificate which determines how much is due, and when. There maybe other factors as well. If this was a newly built property, the property may have only been assessed based upon vacant land rather than actually having a structure on the property. This is a common issue because when a home is built on a site, it increases the taxes significantly when it is re-assessed. Or it may have been as simple as a tax increase. That may have been a bit too detailed, but you should first contact the title company where your closing was held and they could probably provide you with some more guidance. If they say the numbers matched up, you should then contact the county assessor to find out if there has been an increase in your property taxes.

Typically the adjustment will be for a short time until you catch up on your escrow account. Once the escrow account is replenished the payment will go back down.

There's a lot of info missing, but my questions would be did your property taxes or home owners insurance go up?? Did you purchase a new construction home or was it a resale home?? In AZ, when you purchase a new construction home, the property taxes are assessed for its value about 1.5 to 2 years in the past... so new construction homes were a dirt lot back then, and the property taxes reflect that.. Once the county see's that the lot is now improved (there's a house on it now) its value is re assessed and BAM!!! Here comes the new tax bill and your short... this might not have been the loan officers fault.. Just saying!! WilliamAcres.com

This is one of those finger pointing moments that everyone hates. There are several possibilities as to who may be responsible. At the close of escrow, the Title Company has an obligation to make sure all property taxes that are due are actually paid. In some cases, the taxes are "Almost" due, meaning they are not yet due but will be in the first month or two of your new loan. In this case, USUALLY, the new lender will require that they either be paid, or reserved for so that they can be paid when they become due. The devil will be in the details of the Closing Settlement Statement, which is commonly referred to as the HUD or HUD-1. The Lender Instructions to the Title Company should also address them. If the taxes were due, but the title company did not pay them, you may have recourse against them. If they were not yet due and the lender did not require that they be reserved for, or they did not reserve enough, then these are funds you owe. It is doubtful that the lender will absorb the expense. If in fact the error was on their part, you may be able to work with them to negotiate re-paying the amount over 18-24 months. I know of a situation where the borrower was able to claim a hardship due to the large increase in the monthly payment, they contacted the bank asking for special consideration since the error originated with the bank, and the bank did agree to stretch the repayment period to 24 months, cutting the increase in half. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Probably more of a lender and title company problem. I have seen these issue to be incorrect, i.e. the taxes were actually paid but the lender also paid so you tax account is to high etc. Also you can usually work out with the lender to increase your payment to make up the shortage. I would be glad to look at your closing paperwork to make sure if it was or was not done correctly and give you options from that point. You can call me at 273-5004 in Topeka or email at kdwall@kdwallstreet.com