Last week, I wrote a post about Dallas area homeowners receiving notices from the mortgage companies regarding their monthly mortgage payments are increasing. This is due to their home insurance rate increasing, or an increase in property taxes, or some combination of both (see https://wiseinsurancegroup.com/home-insurance-property-taxes-and-escrow-accounts/). It turns out they aren’t the only ones receiving these notes!
I’ve received several calls from clients over the past couple of months. In each case, they’d received a notice from their mortgage company notifying them their mortgage payment was changing due to a deficit in their escrow account. They had the option of paying the escrow shortage or it could be factored into their already increased monthly home mortgage payment. The same thing happened to Sheri and me.
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