What happens if the mortgage company collects the taxes and insurance in escrow but fails to make the required payment in December of 2019? This is what has happened to me. I had over $9K in escrow however they failed to pay. I received a letter from the county that I was in arrears. They finally paid in Feb 2020 what was due in Dec 2019.
In addition, to that I have had another payment deducted in April and will have another in Dec 2020. All three payments will equal over $12K in total so I not only will have the deduction in 2019 I will miss out on, will I also only be able to claim $10K for 2020.
I am sure this is not the first time this has happened to someone but I kind of feel like I am paying a huge price for the mortgage company who messed up not paying the property tax bill on time.
What can I do in my situation?
Thanks in advance,
Sean
