So you have a mortgage but do you know who your loan servicer is or what they do? We’ll explain their role in this week’s short podcast. We’ll also let you know what to expect if your mortgage ever gets sold.
Does your mortgage have taxes and insurance escrowed into your payment? If your property taxes or insurance is reduced then you probably have too much money in your escrow account. Most lenders do a escrow analysis once a year to determine if a refund is needed but you can request this at any time. Call your mortgage servicer (the place that send you your mortgage statement) and request a escrow analysis. If you have too much money, they’ll send you a check!
Do you know what it means to escrow with your mortgage? In this audio podcast we’ll explain how escrowing works and the benefits of escrowing with your mortgage. If you’re into setting a monthly budget for your expenses, you’ll appreciate what escrowing will do for you.