How did I end up with a shortage?

Reasons you do not have enough money in your escrow account to meet the minimum balance may include:

• Increase in the rate of your insurance premium.

• Your property value was reassessed, leading to a change in property taxes due.

• Change in your insurance provider or policy.

• Change in the due date of your property taxes and/or insurance premiums.

• Your payments into your escrow account were fewer or less than expected.

• Starting escrow balance for the upcoming year is lower than expected due to higher expenses in the prior year.