An escrow shortage is when there is a negative balance in the escrow account and not enough money to pay your bills plus maintain the required cushion. The most common reason for an escrow shortage is an increase in property taxes, which results in an increase to the escrow payments. Other possible reasons for escrow shortages include a rise in homeowners insurance and a miscalculation of the escrow payment when the home loan was originally started.
A top real estate agent will be able to answer any questions you have about the process or direct you to a professional who can help you with things outside our area of expertise. Once you hire us, we will do everything we can to make sure you get the best possible offers for you home and even help you to decide which one to pick.
With our help, you can find a home in a community you want to live in and lease the property for up to 5 years (in most areas). You have the option of purchasing the home at any time during your residency. You have the right to purchase the home or the option of walking away without penalty at the end of your lease. Our program gives you the opportunity to realize the dream of owning your home.