Are my escrow payments too high?
Is it common for escrow payments to double since March of 2021? From $741 I am now paying $1,500. Increases are normal but isn't this too much? I asked my lender and they said that it might be due to property taxes. They told me to talk with the Tax Collectors' Office. I am quite new to this and your replies are greatly appreciated. by jimbarret138 from Twin Peaks, Colorado. Jan 9th 2023
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
your loan eacrow account sounds like it was intially too low to cover the property taxes and homeowners insurance ...find out what the proeprty taxes were when you closed on the loan and also find out what the lender collected at the beginning 1) ask your lender to provide you with a transaction printout from 3/2011 that shows how your paymenet were split up and that also shows the property taxes and insurance being paid ......make sure you are aware of the exact amount for your present taxes and homeowners ins
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