UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: SheffieldCourt Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127262  
Subject: Repayment of escrow overpayment Date: 12/8/1999 4:49 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello folks,

Can anyone enlighten me regarding how the repayment of an overpayment into our escrow account is supposed to work?

We bought a new property earlier in the year and the property tax was estimated at @ $1430, and hence the escrow payment was set-up with this figure as a target. The actual bill has now come-in at $980, meaning we have over-payed by $450. I assume that is now due to me (hoping...)? At least this is what our Mortgage broker implied, during our closing session on the house in August. How do I recover this? Do I have to contact my Mortgage company or should this be done automatically somehow?

Thinking on, should this now reduce my Escrow monthly contribution?

Any advice/info would be most welcome :-)

Thanks,

NeilW
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Post of the Day:
Berkshire Hathaway

Is the Market Overvalued?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement