Mortgage servicers are closely regulated on how much they can collect in escrow. you can request an escrow analysis if you think they are collectin too much

I actually stopped escrow. I have to budget for my own taxes, but I really like it!

Using everybody's money as an interest free loan?

If your monthly escrow payments add up to an amount significantly exceed your taxes, complain.

Wells Fargo here. Overpayment check here every year for three years. It's like getting a mini-Christmas bonus because I always forget its coming.

Anonymous wrote:With WF too...I’ve never received an overpayment check but I have had increases for escrow. I assume they are due to property tax increases.

We once received an overpayment check but it was because when we refinanced, we prepaid 6 months of escrow and then they collected immediately. I think they have bands where if you are below the minimum they adjust your escrow up and you pay the shortfall and if you are above the max, they refund. Most people, most years will see either a shortfall or a upward adjustment because property taxes tend to go up, at least based on the assessed value.

Anonymous wrote:With WF too...I’ve never received an overpayment check but I have had increases for escrow. I assume they are due to property tax increases.

We once received an overpayment check but it was because when we refinanced, we prepaid 6 months of escrow and then they collected immediately. I think they have bands where if you are below the minimum they adjust your escrow up and you pay the shortfall and if you are above the max, they refund. Most people, most years will see either a shortfall or a upward adjustment because property taxes tend to go up, at least based on the assessed value.

With WF too...I’ve never received an overpayment check but I have had increases for escrow. I assume they are due to property tax increases.

I've had my mortgage with Wells Fargo for 7 years and this has never been my experience. While the payment has gone up slightly for property tax increases, I've never gotten an overpayment check.

We've only had our Wells Fargo mortgage for a little over a year, but that doesn't match my experience. They bumped up our payment a couple of months ago because our property taxes went up.

You need to call them and ask them why. My mortgage with Well's Fargo increased because property taxes went up. You can either elect to pay the difference in a lump sum (every year), or just have it spread out among payments. I never receive an overpayment check, they just roll over any remaining escrow balance to the next year.

Yet we always get some sort of escrow overpayment check.

This is through Wells Fargo. Any rhyme of reason to this?