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BlazinAzn38 t1_j6lu7d1 wrote

Reply to comment by MapsAndRivers in Am I paying too much in escrow? by [deleted]

What was your escrow shortage last year in total? And what’s your tax and insurance look like for this year?

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MapsAndRivers t1_j6lv8wj wrote

My taxes this year + insurance are about $5,500-$5,600 total. They told me my escrow shortage last year was $2,400.

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DontEatConcrete t1_j6mxr1f wrote

Okay so you need $5600/12 and that’s your escrow payment. However you also need to catch up on that $2400.

If the lender lent you money (they do implicitly to cover the shortage), but you’re at 900+/month it seems they are requiring you pay back the overage over six (?) months instead of 12.

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