mortgage escrow account jumpinp & $2000 in the last year

[neda]

What is the name of your state? New york state
Our mortgage w/ Greenpoint was sold to SlS in May 3 2004.
Since then we are paying almost $ 1000 per month extra on our mortgage.
This extra is listed under escrow account balance.
How is this possible, our property taxes have gone up 20% not double!
How can we stop them. They are making the mortgage payment impossible for us since last year. We cannot afford to get a lawyer.

 

[Some Random Guy]

This lender has different escrow account requirements and has increased your payments to get the escrow balance up to an acceptable level based on your property taxes.

This should be a short-term increase (6 to 12 months), followed by dropping it back down to a level of (annual property taxes / 12). Call the lender. Ask them how long this increase will last and what escrow balance they are trying to attain. Then ask them if an adjustment can be made to the escrow payments, so that the increase is less, but is stretched out over more payments. Can't hurt to ask.

 

[Jezebel1]

We had a similar situation happen on our house a couple of years ago. The mortgage companyy miscalculated the escrow and increased the payments by over $250 per month to make up for it. There really wasn't much we could do about it.