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ella_townsel89 · Joined: 03 Sep 2008 Posts: 1 1.64 Dollars($)

I have a surplus check that belongs to me from my escrow account,they will not release it to me until I make a payment on my mortgage it is a big check what shall I do help me.

adonis · Posted: Wed Sep 03, 2008 9:53 pm Post subject:

Welcome ella_townsel,

The mortgage company can hold the surplus check to compensate for any late payment charges.

Guest

I have a large escrow surplus and my account is current. The mortgage company told me that I have to make my next payment on time and then call back before they will release my escrow surplus. Can they do this? I told them that was against the law because legally that's my money and they have no right to hold it and make me wait until another mortgage payment is made. Am I correct?

gmakerley · Posted: Wed Aug 19, 2009 12:41 pm Post subject:

for me, it's worth the trouble to pay the next payment and then receive the check. if that's their conditions for releasing the funds, is it truly a hardship to do that?

Posted: Sat Nov 07, 2009 8:05 am Post subject:

if payments are current. they have to release escrow surplus promptly.

Guest

hi, everybody,,sorry for me english I learn.. my question is I have a surpluscheck but I'm inloan modification program they can hold my check because I'm still in this this program.
thanks.
alma

jenkin7 · Posted: Thu Mar 25, 2010 2:13 am Post subject:

Hi alma,

The lender would not hold your escrow surplus check as long as you are current on the mortgage. Have you been making the mortgage payments on time? If you have been making the monthly payments while in the modification program, you should not have any problem in receiving the check. But if you have stopped making the payments, the lender can hold your surplus check.

Guest

I am currently 2 years into a 5 year Chapter 13 (100% repayment plan); the mortgage company is holding a sizeable surplus despite being current. How do I get my money back?

savior70 · Posted: Tue Apr 13, 2010 12:33 am Post subject:

To biggamejames,

I believe you are talking about the refund of escrow surplus money, right? Well, if the escrow analysis shows there is excess money in the escrow account, you are entitled to get a refund from your mortgage company. If you have been making your mortgage payments on time as per the Chapter 13 for the past 2 years, there's no reason why the mortgage company will be holding the surplus money. Have you talked to the mortgage company regarding the refund?

Posted: Wed Apr 28, 2010 1:41 pm Post subject:

yes, they said while the current status of the account is good, the contractual status of the account will remain as is until the Chapter 13 has been satisfied.

Guest

after the company contacts me about my modification then can i get my escrow surplus

smithsussane · Posted: Fri May 28, 2010 12:49 am Post subject:

Hi anonomous!

Welcome to forums!

The escrow surplus is returned at the year end. If you have a surplus amount in your escrow account at the year end, then the lender will send a check in that regard and you can withdraw the money.

Feel free to ask if you've further queries.

Sussane

Guest

I have a 30-year fixed mortgage, my montly payment including tax and insurance was $2670/month, today I got a letter from my mortgage company that my county tax was increased by $140/month. Also as of Oct 2010, I will have to make a payment of $404/month for deficiency/shortage/surplus. Question is what is this surplus for? And is it only one year or forever? Thanks...

jerry · Posted: Mon Aug 16, 2010 2:39 am Post subject:

Welcome Kevin,

Your lender will be the best person to answer this. You should contact your lender and check out if there is a surplus money in your escrow account. If there is a surplus in the account, then you won't have to pay for the shortage. You'll have to pay as per the new payment structure forever.

Thanks,

Jerry

Guest

We are currently in Chapter 13 Bankruptcy and have fallen behind on our mortgage. We have a surplus in our escrow. Can this money be applied to the outstanding mortgage payment?

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