I don’t know if anyone on this board might have a bit of advice. I have a loan (not sure if I can mention them per board rules or not) with a certain company. I just received a letter saying my escrow account is almost $1000 short for 2006 when last year I actually had a surplus. I checked my tax rates and any increase in my home insurance and found only a minimal increase. Now I find my monthly loan amount increasing by nearly 30% to account for this “shortage”.
Does anybody have any experience with this or suggestions? The only thing I get from the mortgage company is that, “Oh, we reevaluated you escrow account and that’s that.”