Colorado tops country when it comes to this key cost for homebuyers

Colorado tops country when it comes to this key cost for homebuyers

NEW ORLEANS — If owning a home wasn’t already burdensome enough, Colorado has registered the biggest increase of any state when it comes to how much extra owners must set aside to cover insurance and property taxes. Lenders typically require borrowers to forward money for those expenses each month, which they hold in “escrow” to cover future payments. Those escrow payments are rising at a much faster rate than core mortgage payments, and those i…