Why Do Escrow Account Shortages Happen?

Ever wondered why your escrow account sometimes falls short, leading to unexpected payments? This video dives deep into the common reasons behind escrow shortages, helping you understand this often-confusing aspect of homeownership. In this explanation, you'll discover: ► The primary factors that cause escrow account deficits. ► How property tax and insurance changes directly impact your escrow balance. ► The role of initial projections and annual reviews in potential shortages. ► Why it's crucial to understand your escrow statement. #EscrowShortage, #Homeownership, #RealEstateTips, #Mortgage