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?