From my understanding, your child could buy property/ hold mortgage for you to live in.

mortgage all in is $2600 / month and a conservative rental estimate is $3700-$3900.The tricky thing is my wife will move first, and I will follow her about 3 months later. 

By doing this, you can build equity in your new property while someone else pays the majority of the mortgage through rental income.

( Can't find any info online for the NYC market) Is there a process to try and get the property in a short sale before it goes on auction, If so who needs to be contacted?

I've been paying escrow+mortgage on rentals since 2015 and never had this happen to me.Details:Mortgage company does an escrow analysis and finds the following:2023 Taxes $1648 + Insurance $1634 = Total: $3282New Escrow for 2024Taxes $2331 + Insurance $1918 = NEW TOTAL: $4250- With increased tax and insurance I owe $968 more on escrow.- $968 difference paid out over 12 months would be $80.60 per month MORE.The mortgage company is claiming that I owe $3,000 MORE in escrow and is charging me an additional $250 per month.I checked with them and I've NEVER missed a payment and have been up to date this whole time.They say its not a mistake but couldn't explain why I owed $3000 more instead of $968 more for the year.Am I missing something? 

They grow in value, the tenants pay down mortgages increasing equity, you get tax benefits, and there's the appreciation. 

Penalties, outstanding mortgage balances, liens, judgements, etc... paid in full.

To give you more time to find your new property.You have the info for our online order portal now. 

I have some experience with this as an investor the simplest way to do this is use a refinance or a second or third mortgage to buyout the partners interest with a new agreement 

Our home mortgage is at 2.5%, so it would instantly cash flow if we rented it.