My Mortgage Payment Was Raised? Now What...... скачать в хорошем качестве

My Mortgage Payment Was Raised? Now What......

My payment went up and I don’t know why!! If you have a Fixed Mortgage Product and it includes Escrows, then most likely you the lender just completed an escrow analysis. Let’s start from the beginning. You should have received an escrow statement and this outlines your new escrow payment. This statement also outlines any shortage or surplus you might have. Step 1 You will have a payment breakdown with the old and the new. (when its lower no one calls me) Escrow payments can result from changes from your properties tax collector or insurance provider. Step 2 You will see how the shortage or surplus was calculated Along with Anticipated Escrow activity for the next 12 months. It will provide an anticipated balance and a required balance. This ensures you will have enough money to pay taxes and insurance. If the anticipated balls the below the required you have a shortage, if its higher, then the overage. Step 3 (where my phone rings) If you have a shortage. 2 options Pay the shortage in Full or leave the shortage spread out over 12 months, increasing your monthly payment This is part that that consumer will have the hardest time with. Ex: Last tax bill was $1200. 00.. New tax bill is 2400. increasing by 1200. Why did my payment not go up only 100? Because your escrow account was set up to pay 1200. not 2400. now we have a current shortage and an anticipated shortage. because the next tax bill will likely also be 2400 estimated. Your payment is going up either way. it just depends if you pick how you choose to handle the shortage. Alexa Price NLMS# 365905 Awarded Circle of Excellence Office Locations: Tarpon Springs ◦ Dunedin ◦ Indian Rocks Beach Phone 727-409-3869 | Fax Number 727-490-3913 Alexa.Price@caliberhomeloans.com www.PriceMtgGrp.com Sponsored by the Moeller & Barber Real Estate Team. Helping Build Exceptional Lives Through The Right Real Estate Thank you for watching this video. I hope that you keep up with the our series of videos we post on the channel. Subscribe and share your learnings with those that need to hear it. Your comments are so very valuable to the journey and community we want to create, so please take a second and say…HELLO. We want to connect with you. ---- Follow US Online Here: Moeller and Barber Team Instagram:   / moellerbarb.  . Moeller and Barber Team Facebook:   / moellerandba.  . Moeller and Barber Team Website: http://coastalpropertyfl.com/ Robert Barber Instagram:   / robertbarbe.  . Robert Barber Facebook:   / robert.l.barber   Robert Barber Snapchat:   / rbarberfl   Robert Barber Twitter:   / robertlbarber   PinellasLive Facebook:   / pinellaslive