<prompt> Human: New homeowner here. We financed our new-to -us home through Caliber Home Loans previously known as Cobalt Mortgage. We were thorough, and asked our agent a billion what if questions. He spend a significant amount of time assuring us of our terms with this home loan. We bought our house in Sept. 2015 for approx 230,000 at 3. Its a very old house, constructed sometime between 1880 - 1918. Our payment this whole time has been 1,447. I got a notice in the mail stating there is an escrow shortage of 3,323.51 and our payment will increase to 1913.52 beginning April. Wtf?I panicked and read a little about small increases due to escrow, and sometimes very large ones like a whopping 70! But... 465?! The difference is just too large. This extra money does not exist. Are mortgage payment increases like this common? How could this miscalculation happen? If its an increase in insurance or taxes, how could they have increased by that much? It doesnt seem right. Helppp  <response>: A couple of things to note here:1. Your lender is allowed to keep 2 months worth of escrow payments in reserve the low minimum balance. Part of the shortage that your lender is now recovering is to make sure youre not under the minimum balance. Once the shortage has been paid back most lenders stretch this for 12 months, your payment should slide back down. If the annual increase in taxes and insurance is really 3323, your monthly payment will be going up around 276, which is quite a bit better than 465. That extra 190 is to put your projected low minimum balance back where the lender wants it.2. Call your tax assessor collector, as others have mentioned. Make sure youre eligible for whatever homestead exemptions discounts might be available. I know a ton of people who ignore the homestead applications, then get shocked with a huge tax bill.Good luck! 