Anyone familiar with real estate law want to answer a question for me?
So our property insurance and taxes are paid through escrow. I got a notice yesterday that our insurance premium for the year is due on may 15th and hasn’t been paid.
Mortgage company says they paid it, but insurance company never received it. So basically I’ve been on the phone all day getting the run around from both.
In the end, from what I can research, if this stuff is in escrow, the mortgage company is legally bound to make these payments and can face penalties if they don’t; is this correct? So essentially; they have to correct this; or could be held liable.