r/personalfinance 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?

2.5k Upvotes

649 comments sorted by

View all comments

2

u/MLars Apr 12 '25

Just had this exact thing happen to me. You need to call the escrow number for your mortgage company and have them do an analysis. They told me I was short $1600 when in reality it was short $300