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    • About Us
    • Our Team
    • Privacy Policy
  • Real Estate
    • Your Home Value
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    • First Time Seller Tips
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16 Aug 2023
By RESCO Realty

Why Is My Mortgage Escrow Account Sending Me a Check?

Real EstateEscrow Account, Escrow Account Audit, Real Estate
If you're a homeowner with a mortgage, you may be familiar with the concept of an escrow account. This financial tool is designed to simplify the management of property-related expenses by combining certain costs, such as property taxes and insurance, into one account. Typically, your mortgage servicer collects a portion of these expenses with each monthly mortgage payment and holds the funds in an escrow account to cover these bills when they become due. Various factors can lead to fluctuations in these estimated expenses. If the actual costs turn out to be lower than anticipated, your escrow account may end…
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