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I have a line of credit loan on my home. I believe it is…

Customer Question
Hello, I have a...

Hello, I have a line of credit loan on my home. I believe it is called a Helock? My original lender sold the loan to Ocwen with a -5,000 escrow account. Ocwen assumed loan, escrowed just enough to pay the 5,000.00 debt and sold loan without paying 2014 proerty taxes, then sent a letter saying we owd taxes, 3 years later i find out that we could loose our home to a tax sale,

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

Well, the whole thin snowballed and 2015 & 2016 were not paid. so I have only informed my present company servicing the loan that taxes are due.BSI financial. also, I am newly divorced from a addict, so all of this comes as a shock

Lawyer's Assistant: Where is the home located?

Lakewood colorado.

Submitted: 1 month ago.Category: Real Estate Law
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Answered in 15 hours by:
3/24/2018
Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 21,343
Experience: B.A.; M.B.A.; J.D.
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

I am so sorry to read about your difficulties.

Kindly note that I just came across your post. I do not have control over the question list or the promises made to you by the site as to the response time. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

Kindly give me a few minutes to prepare my response.

Thank you for your patience.

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Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

I have carefully reviewed your post. However, I did not see a specific question. What is your specific question?

Thank you for your cooperation,

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Customer reply replied 1 month ago
Is it against the law to escrow my loan to pay off a debt and then sell the loan without paying my property tax, . The company inherited a 5,000.00, escrowed to pay debt and then sold it to new company, which did not realize the 2014 taxes were not paid. Is this fraud
Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

Thank you for the information.

Kindly give me a few minutes to review the information that you have provided and prepare my response.

Thank you for your patience.

Kindly note that I am working with multiple customers on the site and I respond to posts in order that they are received. If you have not heard from me it does not mean that I have ignored your post. It just means that I am currently working with another customer.

Thank you for your understanding.

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Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

Your Questions:

Is it against the law to escrow my loan to pay off a debt and then sell the loan without paying my property tax,

Response 1: Yes, it is. That would be an unfair and deceptive act and practice. You should file complaint against the lender with your Attorney General 's Office and Consumer Financial Protection Bureau.

The company inherited a 5,000.00, escrowed to pay debt and then sold it to new company, which did not realize the 2014 taxes were not paid. Is this fraud

Response 2: Yes. However, if your taxes are now delinquent, you must pay the taxes to avoid a tax sale and then seek redress from the current holder of your mortgage. You are ultimately liable for the taxes on your property regardless of your escrow agreement with the lender.

Best wishes,

<p style="margin-top:2.5pt;margin-right:0in;margin-bottom:2.5pt;margin-left:
0in;line-height:12.5pt">A 5-star positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating. However, that is how I get paid for answering questions on this site. <p style="margin-top:2.5pt;margin-right:0in;margin-bottom:2.5pt;margin-left:
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Thank you for your cooperation.

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