Discuss football with over 60,000 fans. Free Membership. Join now!

 FAQFAQ  RegisterRegister   ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

FootballsFuture.com Forum Index
FootballsFuture.com Home

Quick Escrow Question

 
Post new topic   Reply to topic    FootballsFuture.com Forum Index -> This aint sports talk!
View previous topic :: View next topic  
Author Message
Bowler1215


Joined: 28 Mar 2007
Posts: 5353
Location: Illinois
PostPosted: Wed Oct 03, 2012 2:11 pm    Post subject: Quick Escrow Question Reply with quote

I got my escrow statement the other day. Basically it said I have to have a minimum balance. I had more than that in it and they cut me a check for the difference. I'm not complaining about getting the check, but why didnt they just keep it all in my escrow to begin with?
_________________
Adopt a Bear:
Jordan Mills
Back to top
View user's profile Send private message
theJ


Moderator
Joined: 20 Mar 2005
Posts: 18198
PostPosted: Wed Oct 03, 2012 2:40 pm    Post subject: Reply with quote

Escrows are shady business. I personally don't escrow my taxes or insurance because of things like this. I'd rather save the money every month in a separate checking account and pay it when it comes due. The caveat is that you have to have 20% equity in your home to do this, in most cases.

I don't know the answer to your question, but at least it wasn't the other way around. I've heard of cases where the escrow company withholds too little for a few years, then back charges you all at once or divides the back charges over the next year. Imagine your mortgage payments going up $400 a month all of the sudden!
_________________


Don't follow your passion, take your passion with you.
Back to top
View user's profile Send private message
Display posts from previous:   

Post new topic   Reply to topic    FootballsFuture.com Forum Index -> This aint sports talk! All times are GMT - 4 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB © 2001, 2005 phpBB Group