We got a notification from our mortgage company saying our "low monthly T&I balance" had been exceeded, and it seems we're going to start paying more. Is this normal?
This may be a non-issue, but mortgage language is so opaque even with lots of Googling that I'm not at all sure.
My wife and I closed on our current house last June. Through a miscommunication on our end or the bank's end we made some extra payments toward the mortgage, but that doesn't bother us as long as it amounts to the same thing in the end. Our property value has gone up about 150% since we bought the house, according to the county.
We recently got these notices:
Is everything in order here?
Posted Jun 3, 2017, 5:02 PM UTC
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