12-08-2008, 04:57 PM
prof wrote:
I received a letter from my mortage company that my escrow
is $900 below where it needs to be (Merry Christmas, me!)
They gave me the option of writing them a check for $900
now or they will spread it out over the next year and that will
cost me $100 more a month (such a swell company).
...
My simple math skills tell me that $100/mo for one year is $1200 total, or
$300 more than the $900 owed. Hmm. 33% 'interest' for a year is excessive.
I'd find a way to make up the shortfall now.