My question involves real estate located in the State of: Illinois
I closed on a house last October after having separate from my children's mother and take primary custody. Moving out, was like starting completely over, new furniture and clothes for the kids....ETC. My lender deals in only VA home loans and my agent was aware of the family situation i was in and that I was concerned about closing costs.
Im a disabled vet with 100% property tax exemption from the county. At closing there was a $3,700 credit from the escrow of the previous owners for 2017 taxes.
After closing I filed for my exemption and sent the county letterhead to the lender and they (the lender) misread it thinking i was exempt for all 2017, im only exempt for 2018 and after.
in dec, they issued a refund check from my escrow for the taxes i paid from nov-jan. plus the 4 months i prepaid at closing.
A couple days ago I was hit with a very unexpected surprise when the county tax bill came and and there is no credits from $3,700 the previous owners paid.
My lender knew I was concerned about closing costs and assumed id be tax exempt for all of 2017, and applied a large portion of the previous owners escrow to my closing costs down.
Ive now been blind sided with a very large tax bill. Im just now getting my self back to neutral ground financially. This is going to set us back years. I dont know what legal ground I have if any. I feel very misled by company the specializes in veteran home loans. I know we all have are woes but im on a fixed income with mouths to feed and no safety nets to fall back on. I dont know what im going to do.
Overwhelmed,
Dubs
I closed on a house last October after having separate from my children's mother and take primary custody. Moving out, was like starting completely over, new furniture and clothes for the kids....ETC. My lender deals in only VA home loans and my agent was aware of the family situation i was in and that I was concerned about closing costs.
Im a disabled vet with 100% property tax exemption from the county. At closing there was a $3,700 credit from the escrow of the previous owners for 2017 taxes.
After closing I filed for my exemption and sent the county letterhead to the lender and they (the lender) misread it thinking i was exempt for all 2017, im only exempt for 2018 and after.
in dec, they issued a refund check from my escrow for the taxes i paid from nov-jan. plus the 4 months i prepaid at closing.
A couple days ago I was hit with a very unexpected surprise when the county tax bill came and and there is no credits from $3,700 the previous owners paid.
My lender knew I was concerned about closing costs and assumed id be tax exempt for all of 2017, and applied a large portion of the previous owners escrow to my closing costs down.
Ive now been blind sided with a very large tax bill. Im just now getting my self back to neutral ground financially. This is going to set us back years. I dont know what legal ground I have if any. I feel very misled by company the specializes in veteran home loans. I know we all have are woes but im on a fixed income with mouths to feed and no safety nets to fall back on. I dont know what im going to do.
Overwhelmed,
Dubs
Closings and Escrow: Disabled Vet Property Tax Exemption Nightmare
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