Escrow Accounts Liability

[Dan Jones]

Guys

Does anyone know if a bank assumes any liability when they manage your
property tax via an escrow account? Wells Fargo really botched up my
account. The triple paid my taxes for one period, ended up getting a
refund and in the process they created a paperwork nightmare and left
me with a net overpayment for a 6 month period.

They were not helpful with resolving the issues and county assessors
records were also a mess. Long story short, I had to go through a
third party to get my money back.

Does Wells Fargo have to refund me the fees associated with their
mistake? There is no question that they were the ones who made the
mistake; they did admit it. It ended up costing me about $800 in the
end and now they are refusing to pay.

Any advice would be appreciated.

[David Martel]

Dan,

You don't provide enough information about these issues But $800 is a
small claims court case. Filing such a case is not hard and costs about $100
(the court filings and papers' service). You'll sue for your damages, the
$800, and court costs, the $100. It will be up to you to show that Wells
Fargo did screw up, and that it was necessary to pay $800 to fix the
problem. Remember that you have the burden of proof so "dot your "i"s and
cross your "t"s.".

Good luck,
Dave M.

[Keith]

Post by Dan Jones
Guys
Does anyone know if a bank assumes any liability when they manage your
property tax via an escrow account? Wells Fargo really botched up my
account. The triple paid my taxes for one period, ended up getting a
refund and in the process they created a paperwork nightmare and left
me with a net overpayment for a 6 month period.
They were not helpful with resolving the issues and county assessors
records were also a mess. Long story short, I had to go through a
third party to get my money back.
Does Wells Fargo have to refund me the fees associated with their
mistake? There is no question that they were the ones who made the
mistake; they did admit it. It ended up costing me about $800 in the
end and now they are refusing to pay.
Any advice would be appreciated.

What does your contract say about disputes? Is there a mandatory
arbitration?