I have a surplus, but my monthly mortgage payment went up. Why?

Even if you have a surplus, we are required to update the amount of your monthly escrow payment every 12 months based on the amount of your tax and/or insurance expenses in the prior 12 months. If your expenses have changed, the amount you pay into your escrow account each month as part of your monthly mortgage payment must be adjusted accordingly.

I am concerned about the new amount due for my monthly mortgage payment. What should I do?

If you anticipate these changes could lead to financial hardship, we want to help. Please reach out to our Homeowner Assistance Team. We will guide you on mortgage assistance options available for your loan and how to apply.