LogFAQs > #979784835

Not only will property taxes go up every year that can cause an escrow shortage but insurance can go up too. Both of these can contribute to an escrow shortage. There has been multiple topics on here lately people have noticed large jumps in their vehicle insurance. I hadnt heard anyone mention their housing insurance but I was curious if it also would be impacted.

My housing insurance and vehicle insurance for the year comes due in April. My property taxes I pay the whole year in September. You can do 6 month intervals but I prefer just to pay the whole year. I pay my house insurance and property taxes directly because I dont have a mortgage/escrow. My house is paid off.

So just last week I mailed in the checks. My vehicle insurance jumped by about $200 for the year and my house went up by about $500 for the year. Between the house insurance and the normal roughly $100 increase in property taxes every year if I would have had a mortgage it would have been short by about $600 and needed readjusted.

But it should be a moderate adjustment. Nothing that should cause any real chaos.