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So I signed a 30 year fixed mort....


Putty
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Lol, no it's not. Not in the least. It's a case of you not doing your research and not understanding what you were signing. Taxes and insurance are going to go up over time.

 

My rates have dropped twice in the 6 years I've owned my house. Its not a definite that taxes and insurance will increase. As a matter of fact at this point they would have to add $100 back onto my mortgage to break even at the rate it was when I purchased it.

 

 

... I think I just jinxed myself :doh:

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I bought my first home last month... fully aware of future tax and insurance increases. No mention of it from my bank either. I thought it was common knowledge ???

 

Same here.

 

That said, $2800/yr is not a surprise I'd welcome either :)

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Thats funny, my escrow went down, and I got a nice check in the mail from them. :lol:

 

:p

 

 

I am sure they will make up for it next year when it all gets adjusted again.

 

BTW, for those that dont understand escrow, it has nothing to do w/ your financed interest rate, and what you actually owe on the house. The escrow is the 'pot/ of money that is renewed every year to pay for all the other 'things' such as homeowner's insurance, etc....

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