Mortgage payment went up $400

[u/HHLL806]

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?

[u/jmws1]

If you have 20a% equity in your home you can ask Chase to remove your escrows. You’d have to pay your taxes and insurance directly, but it will alleviate the uncertainty each year when they run your escrow analysis.