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Ok...so what happens to the Home Owners Insurance that you escrow?
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Dani00518
Gorgeous
Member since 5/05 2730 total posts
Name:
Danielle
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Ok...so what happens to the Home Owners Insurance that you escrow?
You have to pay a year upfront but then each month money is added to your bill for H.O insurance? So technically they have an extra years H.O insurance. Do you ever get it back or do they just keep holding on to it?
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Posted 1/17/09 4:58 PM  |
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Prudential Douglas Elliman Real Estate
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
Name:
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Re: Ok...so what happens to the Home Owners Insurance that you escrow?
I think you always have to pay a year ahead so each month you are adding to the premium for next year.
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| Posted 1/17/09 6:27 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: Ok...so what happens to the Home Owners Insurance that you escrow?
Posted by shamrock124
I think you always have to pay a year ahead so each month you are adding to the premium for next year.
This is correct. The bank does an annual review of your account and they will return any overage. At least this happened to me ... once.
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| Posted 1/18/09 6:05 AM |
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