Anyone here ever deal with an escrow shortage? My mortgage company forgot to include the fourth quarter taxes during their yearly escrow Analysis last March. This caused my payment to lower. I alerted them that this must have been a mistake, and they basically said it’s not a big deal and there is nothing they can do.
Fast forward to today, I get this years analysis, and there is a shortage of almost $3000! In addition, my monthly escrow is increasing by $150. So between the normal increase, and shortage, my mortgage payment is increasing nearly $400.
Do I have any recourse here as far as repayment? I understand it’s money I owe, but as far as stretching out repayment?
To be clear, this is their mistake, and I now will be paying for it. Seems outrageous to expect people to just shrug their shoulders at a $400 a month increase in payment.