The high price of mortgages

Star-Telegram | 10/09/2005 | The high price of mortgages: "For more than a year, Larry and Teresa Light enjoyed their new home in the Holiday Hills subdivision of North Richland Hills. Then came a notice that they were $7,000 behind in their escrow fund used to meet property tax payments.
They had two options to get caught up: Pay the shortage upfront, or stretch the payments out over the coming year. If they paid it all at once, their monthly house payment would rise from $1,240 to about $1,650 to cover the true costs of a year's property taxes. Stretching out the payments meant a monthly house payment of more than $2,100."
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