We live in South Carolina. We purchased our home in 2022 for $255k at an APR of 4.25%. After interest, PMI, taxes, principal, and insurance, we were paying about $1583 for the last 2 years. This year, our monthly payment increased to $2350. Our insurance, and appraised value have not changed in the last two years. The mortgage company is claiming it is because our taxes went up, when the tax rate actually went down from 6% to 4% and the tax office for our county is saying that the increase is coming from the mortgage company. Can anyone tell me who we can talk to to get this sorted? It’s hard enough scraping by for groceries in this economy for us that the mortgage increase is putting us essetially house poor. TIA.
Read more at https://www.reddit.com/r/RealEstate/comments/1dizi4a/question_regarding_mortgage_increase/?utm_source=ifttt
Majeed Ekbal's Daily Blog 