Will your mortgage payment go up or down this year due to escrow?

[Macaela25]

Thanks to escrow overage, our payment will drop by $50 in 2010. This has happened every year so far, and I'm good with it. Some will argue that the overage results in the bank holding onto your money interest free, but I'd much rather have overage than shortage in Decemeber each year.

How about you?

[wookin]

ours went up but I can't remember how much, maybe $20

[katncaed]

ours went up for $60 a month...higher taxes because they say our house has increased in value, and higher insurance since the NC Congress thinks we should share the burden of the insurance rates of the people who own housing on the coast. Is that even constitutional?

[gctattoo]

I love having overage on my escrow. We got a check for approx. $150 last year and that went right towards our next mortgage payment. Our payment went down almost $5 too. And I'm positive we've overpaid this year as well so I expect another check and probably another drop of a few bucks.

[cintinative]

ours went up because our home insurance went up. Did yours go down?

[zoeys_mom]

My mortgage payment did not change because we do our own escrow, but taxes went down of course my property value went down with them:sad:

[Macaela25]

Our property value dropped over $30k - so our taxes were lower.

[heartse]

I'm with zoey's mom... we pay our own escrow. I don't think our taxes will be going down though, unfortunately! The county still hasn't learned how to live on a budget. :(

[meems]

We just re-fi'd..will be making our first payment in Jan, so not an issue here...we did a 15 yr for 4.5%!

I am going to submit for a real estate revaluation though, I was told I could get my taxes dropped by $1100 a year over what is currently on the books by the guy who handled our title insurance.

[CW&M Mom]

Ours will most likely go up. Although I haven't seen anything from the county about our assessment...i forgot to mention that the roof had been replaced...oops (when we bought the house...they had just replaced the roof...and the county assesor was at our home within about 2 weeks of moving in). So anywho...knocking on wood...I cannot afford for the mortgage to go up...it's taking 3 paychecks right now to pay for it.