AboutBobbi Buehl Expertise Home mortgages is my expertise
Experience Experience in the area 15 years Organizations Mortgage Brokerage Education/Credentials BS in Chemical Engineering, BA in Sales and Marketing. Licensed Loan Officer for 6 years and I have worked as a Loan Officer for 15 years.
Question recently my mortgage payment went from roughly $1127 to $1650 after an
escrow re-analyzation. the company says my school taxes were not included.
now i am stuck with a mortgage payment i cannot afford! the entire reason that
i refinanced was to have a lower payment- now it's higher than the first. What
can i do? How did this happen?
Answer Hello,
Unfortunately, you are going to have to pay the back taxes. What I would suggest is this; take out a Home Equity Line of Credit at about 5.8% interest and pay the back taxes off. You'll have a more affordable payment and you'll get to deduct it from your Federal taxes.
