Escrow Overage?


Escrow Overage is basically used in a contract to place money in an account that will be subtracted from later in order to settle expenses which are specified in writing. Normally a mortgage lender will request that the new home buyer put two months of property tax payments and two months of home owners insurance payment in escrow before closing on the home loan. This money will be part of what is known as closing costs.
Q&A Related to "Escrow Overage?"
When a lender sets up your escrow account and determines the initial deposit and monthly payments on the account, it makes an estimate to ensure there will be enough money in the
The overage will be refunded to the borrower(s)
Your mortgage company charges you every month for 1/12th of the yearly property tax and fire insurance. If they ever get too much money they are supposed to return it to you. Usually
First, let me offer condolences on the loss of your father. Is the mortgage solely in your father's name, and is your name not on the mortgage at all? If that is the case, I would
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