Mar
13
2010
Lender blames escrow shortage for $400 increase in monthly mortgage payment (Washington Post)
Posted by in Mortgage Loan NewsNews Sources wrote an interesting post today on
Here’s a quick excerpt
Q: We have owned our house for many years, and the lender has always escrowed money to pay our real estate taxes and insurance. This year, we received a notice from the lender that our monthly mortgage payment will increase by over $400 because there is an escrow shortage. Can we cancel the escrow requirement? If not, how do we determine whether the lender is correct?
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