Why did my payment go up?
the only answers I keep finding is that my insurance or property taxes were probably increased. My insurance actually went DOWN from bundling all of my cars and my property taxes did not increase, plus, I've only been in my house for 6 months. I checked my closing papers and I had MORE than enough to cover the escrow. Why is CitiMortgage, who just bought my mortgage, raising my payment by $100.00 per month? THEY can't even answer me!! They just keep throwing the same numbers around that came on my "escrow disclosure statement", which doesn't make sense either.
Kimberlee,
Did you ask your agent about the escrow disclosure statement? If they cannot explain it the closing attorney should. Most Real Estate attorney's are glad to help explain things with the first year of a closing. It may have been either the original figure for the insurance or taxes were wrong. I of course could not tell you without the paperwork. I suggest asking your agent and the closing attorney you used.
Hope this helps,
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