Escrow error?

[zaffo oxnard]

Sold my house which closed Wednesday. I have my check from escrow. Today they called me saying they made a mistake and that I owe them $3,000. Can they do this? Am I being scammed? I thought escrow prevented this kind of stuff. I'm lost.

tony

 

[Thomas Rogers]

Grab socks Tony.



Before you do anything, contact your lawyer. I am sure you didn't close without a lawyer.



The fine print is everywhere I suspect. It could be a good faith error and if so, you don't expect them to take it on the chin, right, anymore than you would expect them to keep the money if they made the mistake in the other direction.



It still hurts, I know.



If you end up owing, ask them about a payment plan, interest free, since you already closed, and it's their error.



TJR

 

[Kevin Palmer]

You need to find out why they say that you owe them.



Did a bill not get paid, taxes,,,, what is the issue. Then confirm the issue is genuine. If so, you will need to work it out with the escrow company I would think, (legally I mean).

 

[zaffo oxnard]

I suppose that if some poor schmo in thier office "added 12 and carried 5 and came up with 22,000 telephone poles an hour" instead of the number hey shoudl have, I'd loose in court if they wanted to sue me for it. Just funny that they get paid to be the middle man and get things correct, but then end up flubbing it.



if the $ is in 10 year CDs, i'll pat them at maturity



sad

 

[Thomas Rogers]

Tony, have you talked to your lawyer?



Has the closing/mortgage company explained the mistake to your "general" satisfaction?

 

[Keith McElroy]

I had this happen when I sold my condo about 5 years ago. Apparently, the county raised the tax rate on my condo during the year. My escro payment was adjusted to handle it, but left my escro account in the red. I sold the condo before my equilibrium payments caught up, so I had to pay the difference. Completely legit, in my case.