I received a letter today that our mortgage payment for the rental property will be increasing from $312/month to $394/month starting in April. Yuck! It's due to a shortage in our escrow account.
This is how this will affect our rental budget.
Rent Check: $825
March Budget April Budget
$312 Mortgage Payment $394 Mortgage Payment
$110 Condo Association $110 Condo Association
$60 Bowling $60 Bowling
$100 Home Repair $100 Home Repair
$50 Water $50 Water
$75 My Savings $50 My Savings
$75 Mr. R Savings $50 Mr. R Savings
$43 Condo Insurance $11 Condo Insurance(saving annual premium)
(savings for annual premium)