Real Estate Law
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Hello. My name is Alex.
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What was the increase for?
Did you contact the mortgage company customer service to inquire about the increase in monthly payment?
What was the explanation provided by the mortgage company?
Thank you for your follow up.
When you contact mortgage company, what explanation for this increase did mortgage company give you?
Generally, a mortgage company has to provide an explanation for any increases in the amount of a monthly mortgage payments.
In some cases such increases can be dues to the interest rate going up, with variable apr loan or because the taxes or insurance costs have went up and have to be put in escrow every month.
In any case, generally, the first step would be to contact mortgage lender and to inquire as to the reason of the increase and if the increase is doesn't appear proper or valid to dispute such increase with the mortgage lender.
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