Monday, October 25, 2010

Mortgage mess

So, a few months ago I mentioned that my mortgage payment should be going down since I my property was going to be assessed for my purchase price.

When I paid my mortgage this month (I always pay online before my statement gets here in the mail) I just automatically paid it and typed in the normal extra I send over... seems normal, right? Wrong

When I got the statement I notice the amount I sent to escrow went UP... not down... so I paid more this month then I should have. I was billed $858.60 instead of 828.32

While going through the mail I also received my property tax statement... showing that Again, it went down.... so my escrow balance should be down.

I called BOFA's "Bac loan" people and found out that they hadn't got the new bill (and all they had to go off of was last years bill that didn't show my refund I received), but since I could quote him the price over the phone since I had my new bill he would immediately change the amount and refund any overages I'd paid into the account thus far.

My new mortgage payment is now only $808.18 (down $20 a month from the original price) including my MIP, Property taxes, Principle, and Interest.

650.64- P&I
52.74- MIP
104.80- property taxes.

I'm getting a $93.92 refund check

1 comment:

  1. Mortgage companies are notorious for messing up escrow accounts. Good for you for catching their mess up.

    ReplyDelete