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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6823
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: 11 months ago.
Category: Consumer Protection Law
Expert:  Maverick replied 11 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 11 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 11 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,