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I am sorry to learn of your circumstances and I assure you that you are not the only one in this boat. Countrywide did not have the legal duty to do what you describe. Rather, it's every purchaser for themself and it was your duty to go to your local assessor, see what the current applicable tax rates are an obtain an estimate as to what your taxes would be if you purchased that particular property.
Tax assessors throughout this country as so mad at the mortgage industry for circumstances which are exactly like yours. It's one of the unspoken reasons of why the foreclosure rates have been so high.
Good luck and best wishes for better days ahead. I hope that you find this information to be helpful and this answer to be ACCEPTable!
So then whats to stop every mortgage officer from lowballing the property taxes to get the payment low and get people to sign? I find it hard to believe that the lender as well as the title company have no responsibility to make sure the information is as correct as possible. The actual property tax itself is not my problem. Its the 3000 bond that popped up a year later. Several people on my street did not have ths increase becuase their loan was correct to begin with. Are you saying that there is no difference between estimate and gross miscalculation (or possibly intentionally omission)?
For all practical purposes, a bond is a form of a tax -- just like a millage.
Yes, your understanding of the underestimation and the miscalculation is correct. And I'm willing to bet that somewhere in your paperwork is small print encouraging you to go to your assessor for the actual numbers.
so no case you think? I mean, im sure all the ARMS and other scams that popularized the term "predatory lending" were written in plain English very small as well.