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Money and Finances
Reply to "Feeling the financial pinch—not sure what else to cut"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]"I just got a notice from our mortgage company that our escrow is increasing by $50/month." What does that mean?[/quote] It means the OP pays taxes and/or insurance through escrow, and one or both have gone up, so her escrow payment is increasing to reflect that. Have you never paid a mortgage before, or had the option to pay for those things through escrow? Ours has gone up continuously in the years we’ve had our mortgage. This is very normal. [/quote] I rent so no I've never paid a mortgage as I've never owned a house.[/quote]
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