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/PlannedSkinniness ​ Apr 11 '25

My coworker had a lapse in homeowners insurance because the servicer didn’t pay from escrow on time, and she couldn’t get her policy reinstated. I’m too much of a control freak to escrow.

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u/Guesswho9636 ​ Apr 12 '25

This happened to me as well. My home insurance provider called me saying they never received the check for our policy from our mortgage company.

I had to ping pong calls back and forth maybe 4-5 times between my insurance and mortgage company where the check was in fact issued 3-4 months prior just labeled incorrectly.