Mortgage Escrow Shock: How to Avoid the “Year Two” Payment Surprise
What is Mortgage Escrow Shock? When you sit down at the closing table, your Loan Estimate includes a monthly figure for “Taxes and Insurance.” However, for many new homeowners, that number is a placeholder. Mortgage escrow shock is the financial realization that happens 12 to 24 months after a purchase. It occurs when your local […]