9 March 2004
You're young, you'll adjust
After three house payments, I find myself with a brand-new payment book, containing the standard but nonetheless ominous notice:
[name of bank] has completed an analysis of your escrow account, and has adjusted your mortgage payment to reflect changes in your real estate taxes or property insurance.
And they did indeed adjust it by one cent.
I haven't checked with the County Assessor yet, but I'm assuming this means I'm not getting a big jump (which, in this state, is defined as five percent) in property taxes this year.