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Escrow Payments

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asylum23

Member
What is the name of your state? NV

I don't know if everyone's escrow is the same, but ours goes thru the end of June. We overpaid by about $700. I called the mortgage servicer, America's Servicing Co. who have a very unreliable reputation, and was told it was paid in July. That supposedly our county mails our refund.
Well it turns out it was not paid. I'm not sure when it's officially due b/c the mortgage co. is supposed to take care of that for us. Does anyone know if it goes thru the end of June when it's supposed to be paid by them? And how we get a refund for the overpayment or allocate it towards principal? Thank you.
 
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HomeGuru

Senior Member
asylum23 said:
What is the name of your state? NV

I don't know if everyone's escrow is the same, but ours goes thru the end of June. We overpaid by about $700. I called the mortgage servicer, America's Servicing Co. who have a very unreliable reputation, and was told it was paid in July. That supposedly our county mails our refund.
Well it turns out it was not paid. I'm not sure when it's officially due b/c the mortgage co. is supposed to take care of that for us. Does anyone know if it goes thru the end of June when it's supposed to be paid by them? And how we get a refund for the overpayment or allocate it towards principal? Thank you.

**A: what the heck are you talking about? Does this pertain to a lender's escrow account to pay real property taxes, insurance etc.? Your post is rather confusing.
 

bdancer

Member
Assuming you are talking about the escrow account for your property taxes and insurance, the due dates for these vary.

Typically, the insurance is an annual payment and would probably be due in the same month you originally closed your home loan -- that's when the policy started. Usually your insurance company sends you a notice.

Property taxes are frequently paid in two payments and the due dates depends on your county/city. The county/city often send notices to you on this as well.

In any case, mortgage companies normally keep 3 months worth of escrow over and above the actual amounts paid for taxes and insurance. Mortgage companies usually review your escrow account annually (sending you a detailed statement) and adjust the required monthly escrow amount for the next year. If you have an excess in your escrow, they will send you a check for the balance,
 

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