Mortgage shot up/ no longer profitable
Hi All,
so I have a property that’s a 3 bed 2 and half bath. My mortgage was $2,054 and I rented out for $2,750, great!
Now my insurance agent forgot to put flood insurance last year so they double billed me at once causing me to have an escrow shortage ever since then, when taxes get paid they have to do an escrow advance and always in shortage. This my new mortgage payment being $2,805 from $2,054!!
what can I do to fix this and become profitable again ?