Okay so you need $5600/12 and that’s your escrow payment. However you also need to catch up on that $2400.
If the lender lent you money (they do implicitly to cover the shortage), but you’re at 900+/month it seems they are requiring you pay back the overage over six (?) months instead of 12.
DontEatConcrete t1_j6mxr1f wrote
Reply to comment by MapsAndRivers in Am I paying too much in escrow? by [deleted]
Okay so you need $5600/12 and that’s your escrow payment. However you also need to catch up on that $2400.
If the lender lent you money (they do implicitly to cover the shortage), but you’re at 900+/month it seems they are requiring you pay back the overage over six (?) months instead of 12.