Posted on: 17th Jan, 2010 09:10 pm
We recently got an escrow refund check for $1277. With the bank claiming there is an overage. But now theres not going to be enough to pay taxes and insurance next year without causing our escrow payment to go up. I would simply like to know what will happen to the money if i just don't cash the check. I have e-mailed the bank (Bank of America-useless) many times asking them to just void the check and put the money back into our escrow account. Yes i know i could just cash it (i do not want to do this)and send the money back with the payment. I would just like to know what would happen to the money if i don't cash it. It says "VOID AFTER 180 DAYS". Would the money simply go back into our escrow account after 180 days as it should because its our money. Or would the bank just keep it claiming it was never cashed so its ours (the banks). However it would make no since for the bank to think it belonged to them. thanks for the time...
Your query has been answered in the given page:
http://www.mortgagefit.com/predeal/about33355.html
Take a look at it. Hope it helps you.
http://www.mortgagefit.com/predeal/about33355.html
Take a look at it. Hope it helps you.
Another option is to add the $1277 to the amount of your regular mortgage payment stipulating that the amount of $1277 be paid toward your escrow account rather than the loan principal.