Yes. If your bank determines that there will not be sufficient funds in your mortgage escrow account, it may raise your payment by the amount of the shortage. The bank may offer you the choice to repay the amount in one lump sum or spread the payments over a 12-month period.
Review your mortgage loan contract for policies specific to your bank and your account.
Refer to 12 CFR 1024 Real Estate Settlement Procedures Act (Regulation X).