Price of your fixed-rate mortgage has increased

MORTGAGE By Ajay Pandit Jan 18, 2023

[{"selector":"#anim-c4b49614-9c0c-4dab-96a9-5d4b91e8749c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.26171863629683%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com Many South Florida residents are experiencing sticker shock after learning that

[{"selector":"#anim-ba5fb94c-fbee-46d6-bf97-a6fb041b54c5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0, 13.255100902844182%, 0)","translate3d(0, 0%, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com their monthly payments will be increasing from mortgage lenders and then receiving warnings of a deficiency in escrow.

[{"selector":"#anim-87bab222-a876-4c3d-a9e5-dfbacb47c509 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com This was the situation with Kenneth Rankel, 58, and his spouse,

[{"selector":"#anim-931e91e3-2d2e-4aa8-a18d-b65ca2eadb57 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-6.6346153688990555%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Iage Credit - Google.com who last week got notification from their mortgage lender that

[{"selector":"#anim-6d4e8040-3abb-4cc7-9075-5714624d7e95 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(43.74999965867719%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Iage Credit - Google.com their monthly payment will go up by around $323 due to a deficiency in escrow as a result of higher insurance prices.

[{"selector":"#anim-77419624-ed32-4039-b861-f36f9dc91dc9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.16346144236604%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com Rankel stated, "The insurance company issued us a notification that the insurance was increasing in November.

[{"selector":"#anim-c347417e-6c64-410a-b51c-e2b49722b01d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com I simply wasn't sure how much it would cost.

[{"selector":"#anim-e0b6f8d9-7cfb-4054-acbc-20eaf3fd9c4d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-43.61102749155499%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Iage Credit - Google.com Many homeowners are getting letters that their monthly payments would be much higher this year owing to a deficiency in escrow.

[{"selector":"#anim-51da03dd-87e4-4795-ac7d-bce0a0f67da5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-20.659340662914243%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com This is mostly because insurance prices are rising, and in certain cases property taxes are rising.

[{"selector":"#anim-7981b678-8c61-42e2-aba5-c27240ff8c98 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.26171863629683%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Iage Credit - Google.com According to Stephen McWilliam, president and broker of Florida State Realty Group & Florida State Mortgage Group,

[{"selector":"#anim-696d235a-8d77-4380-bd59-9e75ec9396ce [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Iage Credit - Google.com "I probably had personally had half a dozen calls on what's going on thus far in the last month.

[{"selector":"#anim-fa695f11-a46c-4d94-8e6e-0ee4d98396d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Iage Credit - Google.com "They don't know why it happened, and all they can see is their rising mortgage payment." Learn more