- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
My mortgage payment decreased this month....any advice?
Posted on 2/23/13 at 7:35 pm
Posted on 2/23/13 at 7:35 pm
I received my monthly mortgage statement and my monthly payment dropped $100. Any idea why it would change this much? Thanks in advance.
Posted on 2/23/13 at 7:47 pm to Purple and Cold Beer
They probably recalculated your escrow, so you will have this lower payment for the next year. Was an escrow analysis also included with your monthly statement?
Posted on 2/23/13 at 8:01 pm to Bayou Tiger
quote:
Was an escrow analysis also included with your monthly statement?
Yes. That's exactly what it was. Thank you.
Posted on 2/23/13 at 8:18 pm to Purple and Cold Beer
quote:
any advice?
Escrow Change... Will prob jump sometime in the future.
I doubt you do, but if you live paycheck to paycheck and that amount made a big difference, don't go blowing it. More than likely, the Mortgage company will readjust your Escrow in the future and ask for more money.
I remember my last mortgage fluctuated from around 899-960 depending on the amount of funds in my escrow. I think its a law that they can only keep a certain % in your escrow.
On my new mortgage, I don't have an Escrow I pay taxes and insurance out of pocket and have invested that money to work for me. Why should the mortgage company make interest off of my property tax $$$ all year round
This post was edited on 2/24/13 at 7:39 am
Popular
Back to top
Follow TigerDroppings for LSU Football News