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Banking Bastards
So we recently refinanced our mortage with Bank of America, which held our old mortgage. This shouldn't be a problem, since we really didn't switch banks, should it?
Well, we just got notice that they have recalculated our escrow. It seems they think our township tax, which was about $150 last year, will be about $5000 this year, and want to double our mortgage payments.
My guess is that some clerk doing research mistook the township tax rate for the total tax rate (county + township + school).
Mrs. Levy tried talking to BofA about it, but got stonewalled.
Under RESPA, we can send them a letter which they have to acknowledge in 20 business days and fix in 60 business days (total 4 months). If I have to scramble to pay double mortgage payments for 4 months I am so going to sue those bastards.
We'll try to talk to BofA as well as our congressman's office.
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