re: Mortgage/Escrow Question(Posted by LSU6262 on 7/29/13 at 7:07 pm to CQQ)
My mortgage is with Chase also. According to the escrow specialist with Chase, July is Louisiana and Ohio's month for Chase escrow analysis. So, needless to say, they have been receiving a lot of calls from LA and OH.
anyway..... my monthly payment is also going up this year, by $75.
assuming your escrow statement looks identical to mine:
-go to page 2 of 4, under "This Year Oct '12 to Sept '13"
-in 11/2012 and/or 12/2012 you will seed your Estimated amount vs your Actual amount for your taxes. you can compare the differences there.
-your insurance is also on there. it will be under what ever date your insurance company bills you. again, you can compare the difference between "estimated and actual"
-the next page shows the following year.
you have to make up the shortage plus make up the difference for the following year.
The lady I spoke with was extremely knowledgeable and very nice. I recommended calling them: 1-800-848-9136 hit 0 to speak with representative.
like I said, I got lucky and the girl I spoke with was very helpful. If you get someone unhelpful, hang up and try again.