📢 Escrow Statement Confusion? Let’s Clear It Up!

Have you ever opened your escrow statement and wondered why your monthly mortgage payment suddenly went up or even down? You’re not alone! Many homeowners are surprised by these changes, but the explanation is simpler than you think.

🔎 What Is an Escrow Account?

An escrow account is set up by your lender to cover property taxes and homeowner’s insurance on your behalf. Each month, part of your mortgage payment goes into this account, and when taxes or insurance are due, they’re paid directly from escrow.

📈 Why Your Payment Might Change

Your escrow account isn’t static—because taxes and insurance aren’t fixed. Here’s what can cause an adjustment:

• Rising Property Taxes: If Nassau County or Queens raises property taxes, your monthly escrow payment will increase.

• Insurance Premiums: If your homeowner’s insurance goes up, your escrow adjusts to cover it.

• Refund Opportunities: If costs decrease, you may even get a refund check. 💵

✅ How LJ Mortgage Team Helps

We know these changes can be confusing, which is why we review escrow statements with our clients to ensure you understand:

• Why your payment changed

• How to avoid unexpected shortages

• Options for handling escrow shortages at renewal

💡 Our Promise to You

Whether you’re a first-time homebuyer or refinancing, the LJ Mortgage Team is here to guide you every step of the way. We make sure you’re informed, prepared, and always in control of your mortgage.

📲 Schedule your free mortgage consultation today and let us simplify the path to homeownership!

LJ Mortgage Team Inc. | Your Local Guide to Homeownership

📍 127-03 Rockaway Blvd, South Ozone Park, NY 11420

📞 (516) 218-1297

🌐 NMLS ID #2120286 www.nmlsconsumeraccess.org

Equal Housing Opportunity | Mortgage Broker Only, Not a Mortgage Lender

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