Mortgage Increase?

[prettymono]

What is the name of your state? MN

I have a quick question. I was with ABN AMRO for two years with my mortgage. It
was bought out by CitiMortgage in October 2007. I was behind on the payment by two
months but worked with ABN AMRO to pay an extra $500 a month. Once Citi buys out
my mortgage I was told that October 1st I would receive my statement and payment book
just like with ABN AMRO. Well, I never receive the promised payment book/statement
before October 1st from CitiMortgage, so I call them and they say we are in default and
heading towards foreclosure. They will not work with us at all. They say they will send
payment book/statements but I don’t receive anything. Okay, jump ahead to January.
We are up to date with all of our payments starting January 1, 2008, we paid the passed
due amount. I pay for January’s mortgage, even though I am told Citi has no payment
books like they told me earlier in the phone conversations, and that they would have to
check into why I am not receiving a statement each month, but can’t just send one out.

Anyways, I send in my payment for $1850. I had to call them to find out what the
payment was because I did not know what the exact amount was since I do not receive
statements. My payments with ABN AMRO and since we bought our house has always
$1650...why would my mortgage jump $200 a month, is that legal? We have a fixed rate
so I know our rate couldn’t jump. I need to contact them, but the way they treat
customers I am sure I would get no-where and fast. Thanks.

[jmm]

Originally Posted by prettymono

What is the name of your state? MN
My payments with ABN AMRO and since we bought our house has always
$1650...why would my mortgage jump $200 a month, is that legal? We have a fixed rate
so I know our rate couldn’t jump.

Taking a wild guess:

The Principal & Interest (P&I) will remain the same for a fixed-rate mortgage. Assuming part of your monthly payment also goes into an escrow account, then that probably explains the increase. For example, did your homeowner's insurance increase, or did your real estate taxes increase?

You can call your insurance agent to find out what you are paying, and see if it increased. You should also be able to contact the Tax Assessor & Collector of the County in which you live to find out your real estate taxes.

You should have received notices in the mail from your insurance agent and your County regarding these costs.