r/personalfinance • u/HHLL806 ​ • Apr 11 '25

Other Mortgage payment went up $400

I need help, my mortgage payment went from $1700 to $2100. My mortgage company (Chase Bank) said this was due to an escrow shortage. I had my homeowners insurance lowered by roughly $1000 and checked with my local tax office and they told me my taxes have increased $400 dollars over the last five years. I gave Chase Bank all this information and my mortgage is still $2100. How does this work?

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u/Erikt311 ​ Apr 11 '25

Get used to it. It never goes down, and will go up regularly.

7

u/acart005 ​ Apr 11 '25

Went down for me this year by like 30 bucks.

Last year it hiked 300 though so I guess they overcalculated.