Question about Escrow?

If you have overage on your escrow account from you Mortgage company you they automatically send you the difference? I was just talking to a friend and They said they get a check every year. Now grant it I have only had my house 3 years but I have never gotten anything. I looked at my account and the escrow just rolled over to the next year. Now I have a ton of money in there

Re: Question about Escrow?

They should. By law they can only hold a certain percentage over the amount they actually need. Some people prefer to have more so that the bank is requesting money from them at the end of the year. You can call the mortgage company and request an accounting because you think they are holding too much money.