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Does anyone know what happens if your homeowner's insurance rate goes up and is more than your mortgage company has listed for payment from your escrow?

Answer Question
 
allicara

Asked by allicara at 9:56 PM on Jul. 15, 2009 in Money & Work

Level 1 (0 Credits)
Answers (2)
  • yes, you will have an escrow shortage when the mortgage is re-adjusted again and you will be billed from your mortgage company for the shortage.
    PaceMyself

    Answer by PaceMyself at 9:57 PM on Jul. 15, 2009

  • They will send you a bill for the shortage and then they will adjust your mortgage payments to reflect your higher insurance premiums.
    slw123

    Answer by slw123 at 10:13 PM on Jul. 15, 2009

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