08/03/2026
HOMESTEAD, FL- many residents are facing losing their homes because their property taxes have tripled their monthly payment on their escrow accounts.
Many were victims of the old bait and switch at the closing table, where most of the residents were approved for a low monthly payment to purchase their home. But what they didn’t know is these loan officers leveraged the existing property taxes of the seller or new homes with no tax roll the year prior, which in most cases was very low.
In one case a resident from Keys Gate said their realtor (works with internal mortgage broker) quoted her with the existing property taxes of the seller, of course they qualified because if the realtor and mortgage broker followed Regulation Z (tell Z Truth) as per most banking policies, most buyers won’t qualify with the new tax bill based on the purchase price the following year.
But in most cases once it’s closed it’s no longer the realtor or mortgage brokers problem for the buyer signed the documents stating you were informed of the sticker price shock pending.
Another resident of Keys Gate for 20 years, got divorced and did a court ordered QCD (Quick claim Deed) removing the spouse in September 2025, the resident as per Miami Dade county policy should have been grand fathered in with the existing property tax bill of $2800, but Tomas Regalados office billed the mortgage company for over $10,000 causing l a severe shortage to their escrow account.
According to the Miami Dade Property Appraiser Office, they told the resident sorry just pay it and we will send the mortgage company the new revised tax bill in August 2026 and hopefully they give you your money back, the resident submitted all documentation required to prove they also lived there for all those years.
Now the resident is faced with losing their home for this Miami Dade county error.
But meanwhile Homestead residents paid their inflated taxes: while some local schools are pending closure, pot holes on roads, crazy traffic, un synchronized lights at bus ways and now war and possibly picking up the tab on Alligator Alcatraz.
Now Republican termed out Governor De Santis wants to eliminate property taxes, but by then many will lose their homes, because they still need to make their escrow payments or be homeless.
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