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If you have a fixed rate what can still cause your house payment to go up?

 
lesliegail22

Asked by lesliegail22 at 9:23 AM on Apr. 28, 2009 in Money & Work

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Answers (15)
  • Property tax or home insurance are usually included in your mortgage account. When you review your mortgage payments check out the escrow portion, this should be where the increase occurred.


    Make sure you research your bill because my mortgage company tried to add another $80 a month to our payment to stick in a 'reserve account' in case our taxes increase at a later point.  This is an optional thing, supposedly to 'help the customer out' so the increase isn't as big next year, and something you do NOT have to pay (once  you call and have it removed). 

    Anonymous

    Answer by Anonymous at 9:36 AM on Apr. 28, 2009

  • I may be wrong. but I have seen some loans that have the tax payment rolled up into the monthly payment. that would make it go up. I hope you get this figured out and settled!
    MythicMMM

    Answer by MythicMMM at 9:26 AM on Apr. 28, 2009

  • Could be an increase on your taxes.
    Anonymous

    Answer by Anonymous at 9:27 AM on Apr. 28, 2009

  • I should specify, property tax***
    MythicMMM

    Answer by MythicMMM at 9:27 AM on Apr. 28, 2009

  • A raise in property tax or insurance if that is part of the mortgage.
    pagan_mama

    Answer by pagan_mama at 9:32 AM on Apr. 28, 2009

  • If you have your house insurance and your mortgage on the same bill .....it is actually your insurance that has gone up!
    ELIZABETHSMO902

    Answer by ELIZABETHSMO902 at 9:33 AM on Apr. 28, 2009

  • Yep...property taxes and/or insurance. Your mortgage statement should explain the increase.
    Anonymous

    Answer by Anonymous at 9:33 AM on Apr. 28, 2009

  • definately property taxes and school levys ( which would be property taxes)
    mommarykaje

    Answer by mommarykaje at 9:33 AM on Apr. 28, 2009

  • If you taxes and insurance are part of your mortgage. We pay them seperately so we know if they go up. Look on the statement it will show why it increased or you can call the bank.
    Anonymous

    Answer by Anonymous at 10:32 AM on Apr. 28, 2009

  • property tax or a home owners tax, in the state of FL they give you a break unti your second or third year. then they hit you with it. not sure if its like that any where else.
    BekaBug

    Answer by BekaBug at 10:54 AM on Apr. 28, 2009

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