Banking Bastards

richlevy · 10-31-2009, 12:18 PM

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.

10-31-2009, 12:18 PM	#1
richlevy King Of Wishful Thinking Join Date: Jan 2001 Location: Philadelphia Suburbs Posts: 6,669	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. __________________ Exercise your rights and remember your obligations - VOTE! I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting. -- Barack Hussein Obama

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