Homeowners suffered a loss of protection in a change in prior law enacted in late October 1992. Under prior law, a mortgagee or servicing organization for a mortgagee was required to adjust a mortgagorā€™s escrow account payments within 60 days of the receipt of the tax bill sent from the municipality. That provision of the law was deleted and, unfortunately for the homeowner, no new requirement was imposed in its place. It now again becomes the borrowers responsibility to determine whether escrow payments are correct and to request correction of payments that are not. While some mortgagees will continue to act responsibly, not all will. Clients are advised to keep close watch on escrow accounts.