Guardian Savings Bank I NEED HELP!! THEY'VE RAISED MY MORTAGE DUE TO A NEGATIVE ESCROW Granite City Illinois

Ive had my mortgage with Guardian Savings Bank for a year and a half now and my payments have been 616.00 (including taxes and insurance). I opened mail from them the other day and seen that my escrow account was negative 1475.00 and that starting November 1 our payment would go up to 838.00.

I called the bank and spoke with a guy who informed me that once a year they do a so called audit to make sure everything is correct and they noticed that when they figured up our mortgage payment that instead of adding our correct taxes of 1900.00 a year into our payment they went off of my grandmas (used to own the house) senior freeze tax rate of around 600.00 or so a year to calculate our house payment and he said it was their mistake they shouldve checked into that before the loan was finalized, he also advised something about when my grandmother purchased the home some 30 years ago that the appraisal value jumped up from then until now and that our payment with everything included should have never been 616.00 it should have been 715.00.

The piece of mail stated we had 12 months to pay off and speaking with the bank guy he advised we were one of their larger mistakes so he would work with us and divide it up over 36 months raising our house payment to 755.00. I am still not satisfied and would like to know why they didnt catch this at the end of last year or sooner and how can I now be liable for their mistake, I never would've bought the home if I would have known the house payment would be that much. Is there any advise or can anyone help?

Rodney
granite city, Illinois
U.S.A.