Twoply 0 #1 February 25, 2008 My mortgage on my house just jumped up $95 a month from "changes to the NAtional Consumer Price index for all Consumers." Can anyone decifer this for me? How the hell can they just tack on an extra $100 to my $1100 a month payment? Quote Share this post Link to post Share on other sites
BillyVance 35 #2 February 25, 2008 That sucks.... thank God I have a disability exemption on my property taxes..."Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban Quote Share this post Link to post Share on other sites
jtval 0 #3 February 25, 2008 It's because of all the [url http://www.dropzone.com/cgi-bin/forum/gforum.cgi?forum=35;]illegal immigrantsMy photos My Videos Quote Share this post Link to post Share on other sites
Brains 2 #4 February 25, 2008 QuoteHow the hell can they just tack on an extra $100 to my $1100 a month payment? ADJUSTABLE rate mortgage?? Never look down on someone, unless they are going down on you. Quote Share this post Link to post Share on other sites
MikeMcLean 0 #5 February 25, 2008 QuoteHow the hell can they just tack on an extra $100 to my $1100 a month payment? Escrow review? Covering the cost of projected increases in property taxes and/or insurance?It wouldn't hurt you to think like a fucking serial killer every once in a while - just for the sake of prevention Quote Share this post Link to post Share on other sites
BIGUN 1,488 #6 February 25, 2008 Was the increase on the mortgage or due to an increase on your property taxes? If property taxes, there's a lot of items in Ohio (including minimum wage) adjusted according to CPI. EDIT: Could also be a combination of property insurance and tax in escrow.Nobody has time to listen; because they're desperately chasing the need of being heard. Quote Share this post Link to post Share on other sites
Nightingale 0 #7 February 25, 2008 Quote How the hell can they just tack on an extra $100 to my $1100 a month payment? Call them and ask. Quote Share this post Link to post Share on other sites
Twoply 0 #8 February 25, 2008 Yes it is an escrow shortage. And no, I have had this place since Nov '02 on a fixed rate. I did recieve a notice about a year and a half ago, saying that they value of my house was going to go from $175,000 to $200,000. It showed up in an envelope that looked exactly like junk mail. We threw it in the junk mail pile and never even saw it. Dumb asses. We opened it while sorting through, and there it was telling us that "If you have a dispute, to call this number." The date was about two weeks earlier and they weren't taking any calls about it anymore. Our neighbor has been trying to sell his house for the last 2 years and he's not even getting any bites at $180,000. How the hell can they jsut decide that my house is worth more when the market obviously does not support their claim?? Quote Share this post Link to post Share on other sites
BIGUN 1,488 #9 February 25, 2008 Letter of Dispute But, you may want to determine if you have a State Board of Review. Hope it helps.Nobody has time to listen; because they're desperately chasing the need of being heard. Quote Share this post Link to post Share on other sites
CSpenceFLY 1 #10 February 26, 2008 Assuming you have been in the house long enough and have equity, refinance and do away with your escrow Quote Share this post Link to post Share on other sites
ryoder 1,590 #11 February 26, 2008 QuoteAssuming you have been in the house long enough and have equity, refinance and do away with your escrow Absolutely! There is only one way to respond when the term "escrow" comes up in the financial negotiations: "No.". It is a savings account with no interest, and I can't count the number of times I've had friends tell me about the hassles of finance companies failing to pay taxes or insurance in a timely manner, resulting in insurance lapsing and/or threats of tax liens."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
NtheSeaOrSky 0 #12 February 26, 2008 Sorry, no sympathy from me. My property taxes *TRIPLED* in one year - with no improvements to the property. Life is not fair and there are no guarantees... Quote Share this post Link to post Share on other sites
kelpdiver 2 #13 February 26, 2008 QuoteYes it is an escrow shortage. And no, I have had this place since Nov '02 on a fixed rate. I did recieve a notice about a year and a half ago, saying that they value of my house was going to go from $175,000 to $200,000. It showed up in an envelope that looked exactly like junk mail. We threw it in the junk mail pile and never even saw it. Dumb asses. We opened it while sorting through, and there it was telling us that "If you have a dispute, to call this number." The date was about two weeks earlier and they weren't taking any calls about it anymore. Our neighbor has been trying to sell his house for the last 2 years and he's not even getting any bites at $180,000. How the hell can they jsut decide that my house is worth more when the market obviously does not support their claim?? 18 months ago, it probably was going up. But surprise, they're not likely to acknowledge any decreases unless they are forced to. In CA you only get reassessed the higher value when you make improvements or transfer ownership, but in a prolonged decline, people do request reassessment to get the lower tax bill. Quote Share this post Link to post Share on other sites
