---

Escrow Surplus

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
mgreenfi Joined: 24 Feb 2010 Posts: 1 1.27 Dollars($)	Posted: Wed Feb 24, 2010 6:23 am    Post subject: Escrow Surplus Like 0 Dislike 0 I have a client who has an escrow surplus, but she is far behind in her loan payments. Can I "re-program" her surplus to make a loan payment or must I cut a check? I also need the RESPA guidelines to back up my actions to my boss.
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Thu Feb 25, 2010 12:11 am    Post subject: Like 0 Dislike 0 Hi mgreenfi, As far as I know, the lender needs to give back the escrow overage to the borrower at the year end. The borrower may then cash in the check and utilize that money to pay off the delinquent balance. However, this would be the borrower's discretion. To know RESPA guidelines regarding escrow account, check out the given page: http://www.hud.gov/offices/hsg/ramh/res/respafaq.cfm _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0