An unexpected kick in the balls

jerrytsuseer(72)

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Homesteading

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2023-12-12 21:05

Most effective Birth control.jpg
^{(does anyone EVER expect that?)}

Back in 2020, I signed a mortgage to buy this house and property, the loan amount was $205,000 for 30 yrs, and my payments were set at $997 per month.
I've never done this before, but I understood that my loan payments would remain the same unless and until
A. the loan was paid or
B. I made and change or
C. I died.
Knowing you can't fill a hole making the minimum payments, I immediately upped my payment to $1000.00 per month (just under $3 per month would go towards the principle.
Last year, feeling more comfortable, I again moved my payments up to $1,133.28 per month.
Still creeping up on my principle, a little quicker but still at a crawl.

SO TODAY!

I got an email stating that my homeowners insurance had gone up.
Nothing to do with me,nor any changes I've made to the property, but based SOLELY on a rate change approved by the Ga State Legistature, so now that homeowners insurance policy is costing $1,133.28 per year? (or is it monthly?)
SO THEY, meaning someone OTHER THAN ME, made my minimum payment go from $997 to $1,031.38 per month.
I freaked because someone other than me made this change to something that I thought was set in stone.
The payment I'd increased to still covers everything, but less will be going to pay towards the interest every month now.
My current loan balance is $189,147.80
What really screws with me is, the Escrow Account are funds left over from my original loan that are kept to PAY for taxes and insurance, and each year any surplus is refunded to me. This year it is $1,275.67... is your head spinning yet?