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another mortgage question
Posted on 7/20/14 at 10:45 am
Posted on 7/20/14 at 10:45 am
Refinanced in mid 2013.. monthly note goes to $1600.. fast forward six months and note is now $1980. What would cause note to jump ? Was pretty stoked about the $1600.
4
Posted on 7/20/14 at 10:50 am to Teauxler
Insurance and or taxes. Check your escrow account statements.
Posted on 7/20/14 at 11:37 am to mtcheral
Sounds like something in escrow. My mortgage company re-evaluates in July where my funding is on my escrow. Did home insurance increase or flood insurance increase?
Posted on 7/20/14 at 12:12 pm to Teauxler
Check escrow. That's a Big jump but it would be due to insurance and property taxes
Posted on 7/20/14 at 12:47 pm to Teauxler
What these guys said... your principle and interest did not change.
Posted on 7/20/14 at 1:08 pm to Teauxler
If it's a fixed-rate note, then as others said it's either insurance or taxes. If it is an ARM then of course it can jump around.
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