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QUESTION: If I buy a new house as a rental, can I use the rent as income?
February 15, 2019
QUESTION: I just bought a home and wondering if I need to pay my property taxes? I got a bill in the mail from the county and am confused!
February 15, 2019

QUESTION: I am on a fixed income and want to buy a home with a fixed rate. What happens to my payment if my taxes and insurance go up?

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Answer:

If you are escrowing, your lender would evaluate your escrow account most likely twice a year. If taxes and/or insurance increase, the next time the lender analyzes your account they would increase the escrow and that would increase you overall payment even on a fixed rate loan. If there is a escrow shortage, they can increase it even further to make up the difference.

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