How does escrow withdrawal at refi get entered?
harry askenazi
Member ✭✭
I refinanced my mortgage last year, and am trying to now add the new loan and close the old one.
I had an escrow balance on the old account, which was reduced via a withdrawal, so that the account balance is zero at closing. However, I am struggling to figure out where these funds actually went. IE: I can simply adjust the balance down, but prefer to track those funds properly when adding the new loan and closing the old. Any help is appreciated!
I had an escrow balance on the old account, which was reduced via a withdrawal, so that the account balance is zero at closing. However, I am struggling to figure out where these funds actually went. IE: I can simply adjust the balance down, but prefer to track those funds properly when adding the new loan and closing the old. Any help is appreciated!
0
Answers
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You'd need to look at your loan closing documents to see where the escrow funds went ... but I suspect that they were used to pay down the prior mortgage balance.
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