The Finch Formerly Known As Gold

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.

Downward, yet.

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.

Posted at 5:33 PM to Surlywood

Heh...I got one of those notices a few weeks ago, too...only mine went UP to the tune of about $35 per month.

Wanna trade?

Posted by: David at 8:35 PM on 9 March 2004

Talk to my daughter. They thoroughly botched up her escrow; her payment went up a startling $149.

Posted by: CGHill at 8:37 PM on 9 March 2004

The one I was with would offer to let me make a lump sum payment to avoid a huge increase in monthly payment. Not sure whether the new one (I re-fied) will do likewise. I am also expecting property taxes to soar as the new appraisal is significantly higher than the previous one.

Posted by: ms7168 at 12:16 PM on 10 March 2004