So, here's the story.
My wife and I bought our first home in June of 2016. It's a new construction and the builder is LGI. We have been incredibly happy with everything so far, including the tax rate, and the monthly mortgage payments (taxes are escrowed)
Well, the entire neighborhood (including ourselves) received a tax called WCID (water control and improvement district) which seems to be very similar to a MUD tax.
Now, everything was supposed to be escrowed into our payments but the WCID tax was overlooked by the builder and their mortgage consultant. So now, this new tax will be escrowed which will significantly raise our monthly mortgage payments.
When we bought our home, we were very comfortable with what we were paying. And I'm fully aware that mortgage rates go up do to taxes raising. But this tax, was completely over looked and forgotten about. Everyone in our community will now have a higher mortgage than they were told, and for some families it will be higher than they are comfortable paying.
Is there anything that can be done here, or did the builder screw us and we just have to deal with it?
Thanks.
Submitted January 03, 2017 at 02:19PM by guitargy861 http://ift.tt/2hN1hr8
