We might have to sell our house, because the bank messed up on our mortgage.
I have recently declared bankruptcy. My husband hasn't. We just got a notice in the mail stating a refined payment notice on our fixed mortgage that we've had for 2 years. Apparently upon getting the mortgage 2years ago someone messed up and quoted us wrong on our taxes. They were too low, and they want their back money and thus higher mortgage from then on because our taxes are included in our mortgage. We were paying $37.73 every 2 weeks, now they want $1888.00 in back taxes and our taxes every 2 weeks from now on are 155.00 vs 37.73. I think its wrong, it wasn't our mistake. Had we known the taxes were going to be that high we wouldn't have bought the house. It changes everything. The royal bank did this!
My question is can they do this? It was there mistake. We were not given all the proper information when buying this house.
Our neighbor is selling his house, we looked it up on line. Fabulous house. 5 brms, 3 baths, inground pool, 3 levels, brand new dble garage, 9 acres of land. His taxes are lower than ares before the hike. Are house is nice, but not finished and does need some repairs. We only have 3 acres of land. I just don't get it.
2nd question- if we sell, can I go buy another house after declaring bankruptcy? Remember my husband didn't declare. Thanks in advance for your help and advice