Asked by Regent16, 91406 • Wed Jan 2, 2013
I bought a house at the end of 2011 with a fixed rate of 4.5% for 30 years. At the end of my first year of ownership I got a letter from my mortgage stating that due to a revision of my escrow account w/ regards to property tax and/or insurance premium increases my monthly payment has increased by over 1500. Is that how it works or is there something I might be missing?
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