what would be the pay off balance?

[Anonymous]

Hey if I  ask for a pay off balance on my mortgage,  is the escrow included in the pay off?   I now have $1500 in escrow .  I like the pay off too include this money off the balance. I know I will not lose it, but will they make me wait a month to get it?

[Anonymous]

That's probably a good question for your mortgage company.

[Anonymous]

No, it is not... if there are residual funds they will be returned to you (usually in 30-60 days depends on the bank).  The bank will not relase escrow funds until their lien is satisfied (and the paperwork can take time to work its way thru their system).

[Anonymous]

You would need to call your lender and ask for a payoff, speak w/ a person not the automated system and ask if you can "net escrow" or have the escrow balance deducted for the total payoff amount.  Some lender will do it some lender don't if they dont they will refund it to you once the loan is paid in full.  They usually hold it for 15 days to make sure the funds used to payoff the loan are verified and clear and just to make sure that there is no issue with any of the parties involved in paying off the loan.