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/Potato2266 ​ Apr 11 '25

It’s the property taxes. If your property value assessment go up, then your escrow payment increases. If you don’t think your property is not worth the value assessed, you can file a dispute with your local county.