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Infolawyer
Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6715
Experience:  Licensed attorney helping individuals and businesses.
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I entered into an agreement for solar energy. the company

Customer Question

I entered into an agreement for solar energy. the company said it was a program via Riverside County CA. I was advised that I would be making my payments thru my escrow account. I was told that solar panels would increase the value of my home.
The Problem: Home value went up and my monthly mortgage payment went up by $200. six months later it went up again by $200. I am looking at another $200 increase in January 2017. I tried to shore up any escrow shortage by paying an additional $200 monthly since January 2016 and paying an additional $1000 this past February. I am at a lost why this is happening.
Submitted: 6 months ago.
Category: Consumer Protection Law
Expert:  Maverick replied 6 months ago.

Welcome! My name is***** give me a few minutes to analyze and/or research your inquiry and I will be back.

Expert:  Maverick replied 6 months ago.

It appears that this at least in part due to an increase in your property taxes because the solar panels increased the value of your home. But, I will opt out and let a more knowledgeable expert try to assist you further...

Expert:  Phillips Esq. replied 6 months ago.

A different Professional here.

I am not sure why your monthly mortgage would go up because of the solar panels even if your property value went up. Your mortgage is a fixed contract and should not go up because the value of your property went up.

Kindly clarify.

What is your specific question?

Thank you for your cooperation,