Emergency Fund Dilemma. . . .

So, yesterday I received a statement in the mail from my mortgage holder (well, one of ‘em, anyway) indicating that my escrow account is predicted to fall short by $363. I can either pay the amount now (which would actually decrease my monthly payment amount by about $20), or I can pay it over the course of the next year, increasing my monthly payment by about $10.

I’m already stretched pretty thin from month to month, but the only way I can pay $363 right now is to take it out of my Emergency Fund (currently at $1,000). That would mean that next month I would pay less on my credit card debt --- basically just the minimums --- in order to work on getting my EF up to $1,000 again. What to do, what to do?

The idea of lowering my monthly mortgage payment, even if by $20, is very, very attractive. I would love to pay down my credit debt, too, and worry about losing my steam in paying extra every month. Is it important that I’m currently paying 4.99% on one credit card (balance just over $3,400) and 0% on another (to be paid off completely with tax refund!) versus 6.54% on my mortgage?

Now, I’m no math whiz (hence, the astounding amount of debt compared to my measly salary) but it seems like a better deal to pay the $363 now rather than over the course of the next year.