property taxes: Shortage or Overage? - 12/29/10 05:20 AM

Yesterday, I received my Escrow Analysis Disclosure Statements in the mail.  
At least once every twelve months your mortgage company reviews the amount of taxes, insurance and mortgage insurance, if applicable, being paid from your escrow account. In our area this is typically done in November, when taxes are paid and statements are mailed in December.
If they have collected too much over the past 12 months, typically they will spread the overage throughout 12 months, and lower your escrow payment, thus, lowering your mortgage payment.  If the overage is too large, they will often mail a check back to … (6 comments)

 
Sandy Shores FL Realtor®, Melbourne Real Estate, Brevard County Real Estate, Florida's Space Coast (M & M Realty of Brevard Inc.)

Sandy Shores FL Realtor®, Melbourne Real Estate

Brevard County Real Estate, Florida's Space Coast

Melbourne, FL

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M & M Realty of Brevard Inc.

Address: Melbourne, Palm Bay, Satellite Beach, the beaches, Suntree, Viera, Rockledge, Merritt Island, Mims, Cape Canaveral, Brevard County FL Real Estate

Mobile: (321) 253-4545

Office: (321) 254-2964

Brevard County Real Estate on Florida's Space Coast Residential, Relocation, New Construction & Investment 19 Years in Real Estate / 39 Years in Brevard County _________________


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