Let's make clear all the costs of owning a home. I just learned about "supplemental county tax" When you're struggling to make mortgage payments, these little surprises can be devastating.

Apparently, money contributed to escrow only takes into consideration annual property tax. I asked the finance manager who opened our mortgage if there are other costs I need to consider. He failed to mention this one: there is a supplemental tax every time a property is bought or sold. In this case, it was around $1600.

Also learned that escrow sometimes collects too much or too little. In the too little scenario, you can end up under-saving and owing money.

What do you all know about all this craziness?

Advice?

Submitted January 05, 2017 at 12:58PM by the90stotallysucked http://ift.tt/2jfdJ84