Tag Archives: Bogus Charge

TO SERVE & PROTECT – Part 2

Howard Lipset of www.thecfo.wordpress.com provides another example of how he protected a client from losing money from a bogus bank charge.I’m continuing with historical situations that have occurred in which we discovered that our clients were going to be taken advantage of.

This is a very strange story and those of our readers who have a mortgage and escrow their real estate taxes should be aware of what can go wrong.

One day, our client receives a letter from the people who are servicing his mortgage. The letter tells him that there is a shortage in the escrow account and that he needs to make it up immediately ($6,000) and that the next 12 months of escrow will increase by $500 per month. At this point, what would you have done? Would you have paid it?

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