after modification is made how long do lender have till they raise payments/ rates on loans & escrowwe had a modification done around 2006... and I was told that they couldnt raise the rates on the loan.. but after my loan was sold from FIRST FRANKLIN to Bank of America my modified loan went up by $500 give or take.. so does bank of America have the right to raise rates? also part of the $500 is escrow... are escrow is for insurance which is $1500 property tax... and another 1300 for hazard insurance.. so to be safe lets say 3000 total... at the end of the year we will have payed $4416 so whats the extra 1416 for???? can they charge 2400-3000 for their own insurance???April 08 2011 - Sheridan South00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.