Thanks. I'm not too familiar with escrow yet and didn't know that. I'm just helping pay my half of living where I am. It was kinda hard to take at first why I had to pay an extra $80 per month now.
Thanks. I'm not too familiar with escrow yet and didn't know that. I'm just helping pay my half of living where I am. It was kinda hard to take at first why I had to pay an extra $80 per month now.
The letter that came in gave us two options, pay $2k+ before 8/1/15 or pay extra $160/ month till shortage caught up.
The letter that came in gave us two options, pay $2k+ before 8/1/15 or pay extra $160/ month till shortage caught up.
Wow. That's pretty serious. They musta really underestimated, or your taxes went up pretty high.
That seems high. Escrow is completely out of mortgage hands (sorta). it's a totally separate account for insurance, taxes, etc...
I've had a few hundred dollars increase, or slight decrease (sometimes it takes 2 years to 'level out').
There some issue with back taxes being found out or something?
nothing found in the letter. It does state in an almost blacked out (barely legible) portion defining shortage. Like gfgt said in the first response it does state tax and insurance premium increase.
Chase it. Get a before and after for everything, then contact the relevant payees to find out exactly why things spiked. They should be able to explain it to you better than the mortgage company... They just pay what they are told via the bills. You need to find out why the bills increased from the source(s)
The letter that came in gave us two options, pay $2k+ before 8/1/15 or pay extra $160/ month till shortage caught up.