Will Well’s Fargo work back-assessed property taxes into mortgage modification?

I live in Texas and have recently been informed my property tax will jump to approximately $ 20,000 due to 5 years of omitted property! The appraisal district has only been assessing the $ 17,000 land value of my property without including the $ 116,000 home sitting on it! I recently refinanced and I think it must have somehow alerted them to this omission.

Thing is, I’ve had to pay all kinds of fees for title insurance, tax certificates, escrow fees and so on… but never, in my 7 years of ownership, have I been alerted by Well’s Fargo concerning ANY tax discrepancies. I have a VA loan guaranty. Do you think they’ll be suspicious of Well’s Fargo’s risky practices, because my original and refinanced DEED doesn’t even list the correct legal description of my property!

Well’s Fargo insisted on an escrow account, which will be monumentally deficient in funds. Their terms state that I must pay the difference within 12 months, which would send me into bankruptcy and foreclosure. I have had a perfect payment record these 7 years and my credit is very good, though my credit cards are maxed out. My VA loan guaranty is for $ 35,000 and I am concerned Well’s Fargo might just cut their losses and get their money back through foreclosure. Do you think they would be compelled at all to work something out with me? I’m hoping they will work the taxes into my mortgage through a loan mod, but I’d love to maintain my current 4.75% interest rate if possible. Am I asking too much?

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