Posted on: 23rd Oct, 2008 12:19 pm
I have the same problem like others right now in this crisis. the thing is like others, my escrow went up due to unpaid property tax. right now I have to pay $2500, before I used to pay $788.00. yeah it went up way too much. when I talked to my financial institute, they told me I have to write a "longer shortage spread" letter to lower my payment. can anyone help me how to write a letter.
I would be really thankful
I would be really thankful
Hi kancha!
You can contact your lender and he will give you the guidelines to write a "longer shortage spread" letter to lower your payments. I would like to tell you that you will get around a year's time to payoff the remaining escrow amount which will be reduced now.
Thanks.
You can contact your lender and he will give you the guidelines to write a "longer shortage spread" letter to lower your payments. I would like to tell you that you will get around a year's time to payoff the remaining escrow amount which will be reduced now.
Thanks.