Mortgage Payments Are Just the Start. Here's What Homeownership Really Costs. Escrow account shortages. Principal and interest are the two biggest factors that make up ...

Each year, the monthly escrow payments for the following year are adjusted up or down based on whether there was a shortage or surplus in the account for the current year’s payments. A mortgage ...

But homeowners insurance and property taxes can rise over time, which could lead to a shortage of funds in your escrow account. This is particularly common among new homeowners. When you first buy ...