I am a first time home buyer this year. When I secured my loan in May there was a $1200.00 payment to my escrow account for the pro-rated year's taxes, made by the previous owners. In July my loan was sold to another mortgage company, I was told everything would be intact and the same. However after reviewing my account, I see that the escrow account for taxes and insurance is short about $1,000 from the initial transfer. It shows that only $200 was transferred over into the escrow rather than $1200. I contacted my original lender about this because my current lender said they applied it as they received the documents. Is there any legitimate reason why this could happen? My original lender vaguely said the taxes could have been paid early in July (right when things were being tansferred) but he's taking awhile to get back to me on why this happened.
Taxes will be due in a couple months and I'll be short alot of money if it is some other reason? Is ther any other legitimate reason they can take that money out?
Read more: Tax escrow didn't transfer over correct?
