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I Have a Fixed Rate Mortgage. Why Did My Payment Go Up?

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Manage episode 338946263 series 3056123
内容由Tim Hart提供。所有播客内容(包括剧集、图形和播客描述)均由 Tim Hart 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

We have been getting calls like this over the last couple weeks so this may or may not have happened to you. A mortgage with escrows get reviewed once a year by your mortgage holder.

When this review happens, the lender needs to ensure that they are collecting enough money to cover your real estate taxes and insurances when that bill comes due.

Many times the lender needs to increase your monthly payment if your taxes or insurance increased from the year before. Insurance in Florida has increased pretty dramatically this year so it does not surprise us that payments are going up when the escrow review happens.

Check out the episode we did about this and we offer a couple solutions at the end.

Spoiler alert- The solutions are to shop your homeowners insurance and that you can pay the full bill up front to keep your payment down. Not many options to fix it. Sorry!

Call our team at 239-437-4278 if we can help with any of your mortgage questions or concerns.

  continue reading

142集单集

Artwork
icon分享
 
Manage episode 338946263 series 3056123
内容由Tim Hart提供。所有播客内容(包括剧集、图形和播客描述)均由 Tim Hart 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

We have been getting calls like this over the last couple weeks so this may or may not have happened to you. A mortgage with escrows get reviewed once a year by your mortgage holder.

When this review happens, the lender needs to ensure that they are collecting enough money to cover your real estate taxes and insurances when that bill comes due.

Many times the lender needs to increase your monthly payment if your taxes or insurance increased from the year before. Insurance in Florida has increased pretty dramatically this year so it does not surprise us that payments are going up when the escrow review happens.

Check out the episode we did about this and we offer a couple solutions at the end.

Spoiler alert- The solutions are to shop your homeowners insurance and that you can pay the full bill up front to keep your payment down. Not many options to fix it. Sorry!

Call our team at 239-437-4278 if we can help with any of your mortgage questions or concerns.

  continue reading

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