Escrow

[Sbrooks1]

So my homeowners went from 1100 to 2900 this year so of course escrow increased. I did shop around and find a policy for 2000 and changed , however mortgage lender ended up paying both escrows. This change was for 3-1, I did not receive refund from the cancelled policy until 4-8 of which immediately went to deposit into escrow and noticed now my not went from 1110 to 1244 after escrow shortage but now the note has gone to 1544. This is a note I would never sign up for. I have deposited back the 2900 refund after they calculated new note. Should I ask for another analysis. This is a 432 increase per month for a home I only owe 130000 before pay off. 

[ShanetheMortgageMan]

Yes, I'd definitely ask them to do another escrow account analysis.  Hopefully your payment goes back down when they realize they've been over collecting. 

[Sbrooks1]

Thanks, will do

[GreatLife]

If rates aren't higher now than your current mortgage then refinancing to a mortgage without escrow might be worthy of your consideration. Directly pay the taxes & insurance yourself.

[Sbrooks1]

I wish, I have a 2.2 rate!