Saturday, October 17, 2009

Escrow - Mortgage

I called up my Mortgage company to ask this question:

Would they automatically apply Escrow balance to Mortgage if the Escrow account holds more money?

Apparently, they don't.

I would have to satisfy the mortgage(fully have it paid off) and then they will write a check to me within 15 days if anything is left in my Escrow account(after paying off the property taxes and home insurance)

No comments: