Well, the next step in your residential property tax increase is happening. Banks are sending updated "mortgage bills" to homeowners.
Guess what? You owe more money!
Recently, a young friend reached out, concerned about his $100 monthly mortgage increase and he didn't know why. That's a lot of money — $1,200 a year.
Drumroll for the explanation.
Since the bill comes from the bank, it's the lender's fault, right? Nope. By law, a residential mortgage statement must show the escrow portion — the amount you pay for insurance and taxes for your home.
What did your lender say was the reason for the...
Reader Comments(0)