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Mortgage Payment/Statement?
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Mortgage Payment/Statement?
Looking at my first statement (Let the fun begin) and it shows a box for "Additional Escrow", my questions is when would I ever send extra money for this and do you just take it upon yourself to do it or they let you know when you need to? 
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Posted 11/21/07 1:53 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Mortgage Payment/Statement?
You would send it if you notice your escrow account is below what is needed for taxes. This would happen if your taxes are higher than originally thought, etc.
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| Posted 11/21/07 1:54 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: Mortgage Payment/Statement?
last month we received our new mortgage payment stub and then we also received a payment for our increase in taxes. So there are times when they will contact you as well about your escrow account.  We have CitiMortgage though and I'm sure different banks work differently.
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| Posted 11/21/07 3:53 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Mortgage Payment/Statement?
They will alert you and let you know when more money is needed for escrow.
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| Posted 11/21/07 6:48 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Mortgage Payment/Statement?
there is a minimum amount you need to have in your escrow account. I got a letter saying that it would fall below in x amount of time and I had two choices. send in $400 to bring it back up or divide the $400 over 12 monthly payments. - so you would want to check off escrow in that instance - or it may go to the principal or worse - the interest!
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| Posted 11/21/07 10:20 PM |
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