Mortgage increased $71 a month- PITI is the same. What the hell?
I have a fixed rate mortgage since 2014. Payment has always been the same amount.
Mortgage lender increased my payment by $71 per month. My property taxes and insurance remain the same. Only issue uncovered is that they paid my property insurance tax twice ($301). The insurance company is sending a check now for the difference.
$301 (yearly) doesn’t account for a $71 monthly increase however. I have called them twice and the phone reps were dumb as dirt. Gonna go into the bank on Saturday morning, not sure how that will go.
Question is there any valid reason why a fixed rate mortgage would increase $71 a month if taxes and insurance stay the same and it’s a fixed rate mortgage? Or any viable explanation for this?