Escrow Acct.owes me $

[BuyerBware]

Indiana
I purchased a home in 10/03 and escrowed my property taxes, PMI, and Hazard Insurance. In 2003 our county was conducting a property tax assessment. I was required to pay extra $ into my escrow. I appealed the rate, won, and now my escrow account has a $2,000.00 excess over the 1/6 legal limit cushion, according to the Indiana RESPA laws.I have taken all of the updated tax forms to the bank, yet they have only returned a small portion of the amount. They are still $2k in excess of the legal limited amount. How do I get the rest of my $$ returned?

 

[PghREA]

What is the name of your state?What is the name of your state?What is the name of your state? Indiana
I purchased a home in 10/03 and escrowed my property taxes, PMI, and Hazard Insurance. In 2003 our county was conducting a property tax assessment. I was required to pay extra $ into my escrow. I appealed the rate, won, and now my escrow account has a $2,000.00 excess over the 1/6 legal limit cushion. How do I get my $$ returned?

Contact the escrow company and show them your paperwork, they have no way of knowing about the appeal unless you tell them or until the new tax bills are sent to them.

 

[Ciarraine]

The escrow agent is allowed by law [RESPA] to collect a maximum of 2 months in excess of the anticipated bill. So if you're billed annually for taxes, the maximum that can ever be on account is 14 month's pro-rata of taxes.

I just tell you this so that when you forward your paperwork, you'll understand why your refund doesn't work out to exactly what the new tax bill is for. Add 2 more months.

 

[BuyerBware]

Indiana
I purchased a home in 10/03 and escrowed my property taxes, PMI, and Hazard Insurance. In 2003 our county was conducting a property tax assessment. I was required to pay extra $ into my escrow. I appealed the rate, won, and now my escrow account has a $2,000.00 excess over the 1/6 legal limit cushion, according to the Indiana RESPA laws.I have taken all of the updated tax forms to the bank, yet they have only returned a small portion of the amount. They are still $2k in excess of the legal limited amount. How do I get the rest of my $$ returned?

If it doesn't kill you, it'll only make you tougher!!