Newsflash: Quicken Loans Property Tax Underestimate –> payment jump?

Hi,Attorney, here. Have heard from a few clients who financed with Quicken Loans and had their loan payments jump several hundred dollars after first year due to ‘unforeseen’ increases in their property taxes. Thing is, tax records don’t support the increase. Theory is that this could be a gross underestimate of taxes by Quicken to make loan payments seem smaller (aka more/actually affordable) so as to entice signing. Anyone have any thoughts/experience/knowledge of/with the above?Thanks,MEdit to appease the LocationBot: Philadelphia, PA



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