Posted on: 09th Aug, 2010 08:47 pm
Last year I had a notice of escrow shortage, I managed to pay the amount request and my mortgage payment also increased. This year I am getting another notice of escrow shortage with an increase in payments. Does this seem right?
Hi wjcoop,
You need to contact your lender and clarify the whole issue. If your property taxes have increased, then it could result in a shortage in your escrow account. In that case, you need to pay off the shortage amount and bring the account current.
Thanks,
Jerry
You need to contact your lender and clarify the whole issue. If your property taxes have increased, then it could result in a shortage in your escrow account. In that case, you need to pay off the shortage amount and bring the account current.
Thanks,
Jerry