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Started By
Message
How bad was your escrow account short this year?
Posted on 3/24/25 at 8:17 pm
Posted on 3/24/25 at 8:17 pm
In Raleigh, home values went up aggressively post pandemic
We now owe 4400 to get our escrow account caught up, plus our monthly goes up 300 per month!
We have a 2.25 percent rate on 15 year mortgage
We now owe 4400 to get our escrow account caught up, plus our monthly goes up 300 per month!
We have a 2.25 percent rate on 15 year mortgage
17
Posted on 3/24/25 at 8:23 pm to ApexTiger
Our monthly going up about $500.
Posted on 3/24/25 at 8:40 pm to ApexTiger
My house will get paid off this year before my next insurance renewal, and then I’m cancelling it. Tired of the increases and getting fleeced. I’ll take my chances and self-insure (except HO/fire/liability).
Posted on 3/24/25 at 9:08 pm to ApexTiger
$0 - I do not have an escrow account.
Mortgage payment has been same for 12 years :)
Mortgage payment has been same for 12 years :)
Posted on 3/24/25 at 9:38 pm to ApexTiger
Property tax up $140 per month in Dallas.
Posted on 3/24/25 at 9:53 pm to DarthRebel
quote:
$0 - I do not have an escrow account.
Same here. I don’t escrow.
Posted on 3/24/25 at 10:21 pm to meeple
quote:
except HO/fire/liability
What else would one need except maybe flood?
Posted on 3/24/25 at 10:33 pm to PetroBabich
quote:
What else would one need except maybe flood?
Wind and hail. I already let flood lapse. I’m on an island of elevation.
Posted on 3/24/25 at 10:38 pm to NewIberiaHaircut
I don't escrow because I'm a degenerate and it helps me accrue credit card points.
Posted on 3/24/25 at 11:07 pm to ApexTiger
ZERO. my main home been paid off since 2012.
my property tax is dirt cheap and homeowners is still the same
my property tax is dirt cheap and homeowners is still the same
This post was edited on 3/24/25 at 11:09 pm
Posted on 3/25/25 at 4:26 am to ApexTiger
Last year about 3k this year only about 400 dollars. If it wasnt for my 2.25 loan then i would be in a world of hurt. How people with loans higher than 5 or 6 percent are handling this has got to be super stressful. The middle class has been getting hit hard the last few years with prices skyrocketing on everything. Property taxes and home insurance just keeps going up yearly here in fl. 
This post was edited on 3/25/25 at 4:33 am
Posted on 3/25/25 at 7:38 am to ApexTiger
quote:
Raleigh, home values went up aggressively post pandemic
It's your job (or a lawyer you hire) to dispute your valuation, every, single, F'ing year. If your assessment didn't go up, it should have gone down. If it went up a little, it should have gone up less. This is a compounding problem that only gets worse the longer you pretend it doesn't exist.
As soon as your tax/valuation statements get mailed, you need to request a copy immediately from either the bank or the county. Too many people that escrow don't know for months after (sometimes 45 days before taxes are due, at least in Fort Bend County, TX), but it's their fault for not paying attention.
Posted on 3/25/25 at 7:43 am to FLObserver
quote:
Property taxes
It takes a village, man, it's for the children.
Homeowners cheer values going up, most without directly getting the impact it has on their property taxes. Oh, you voted for that mosquito control bond that said your tax rate wouldn't change? Cool, it didn't, but the value of your house went up $20k. They'll get their money. Texas changed state law to require a statement on whether tax rates would change on each funding initiative, but I think it had the opposite impact (including amongst Asians who are supposed to be great at math.) People keep voting for more shite "because the tax rate won't change," but their home value goes up state max of 10% every year, year after year, and they don't get it.
Posted on 3/25/25 at 8:00 am to ApexTiger
I put down 3% on my mortgage @ 3.625% and for the first time this year I’m paying more in escrow than I am for the mortgage payment. It’s insane.
Posted on 3/25/25 at 8:16 am to ApexTiger
I choose not to escrow. I pay my property taxes and insurance annually.
A long time ago I got hit with an adjustment like that and said never again. I like knowing that my mortgage payment will never change.
A long time ago I got hit with an adjustment like that and said never again. I like knowing that my mortgage payment will never change.
Posted on 3/25/25 at 8:17 am to meeple
quote:
My house will get paid off this year before my next insurance renewal, and then I’m cancelling it. Tired of the increases and getting fleeced. I’ll take my chances and self-insure (except HO/fire/liability).
How much is your house worth?
Posted on 3/25/25 at 8:18 am to ApexTiger
I'll get to freeze mine in 30 years. 
Can't fathom what mine will be then. Already about 6k a year.
Can't fathom what mine will be then. Already about 6k a year.
Posted on 3/25/25 at 8:18 am to slinger1317
The last two years we have received a check back from escrow for overfunding only for them to come back to us 2 months later to tell us we don't have enough funds in the escrow account to pay property taxes...
Posted on 3/25/25 at 8:35 am to slackster
quote:
I put down 3% on my mortgage @ 3.625% and for the first time this year I’m paying more in escrow than I am for the mortgage payment. It’s insane.
Our escrow is higher than our principal payment as well. We refinanced during Covid though and have a really low rate at 2.3%.
Posted on 3/25/25 at 8:47 am to ApexTiger
A lot. It hurt. My insurance, taxes, and shortage are way more than the P&I.
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