topic Re: Escrow stress in Mortgage Loans

Escrow stress

wildbillcody — Wed, 26 Jun 2013 16:48:04 GMT

We are in escrow and let me tell you it is hard keeping everything in order during this time. Keeping an eye on all credit reports and scores to catch anything that might come up, keeping bank statements clean so nothing pops up, this is all a full time job.

Re: Escrow stress

Anonymous — Wed, 26 Jun 2013 18:41:32 GMT

I hear you and I'm with you, scheduled to close in July although cleared to close over 1.5 weeks ago. Sellers need to wait to start of their new lease so they can move.

Stressful indeed.

Good luck!

Re: Escrow stress

pdog661 — Wed, 26 Jun 2013 23:53:51 GMT

@Anonymous wrote:
I hear you and I'm with you, scheduled to close in July although cleared to close over 1.5 weeks ago. Sellers need to wait to start of their new lease so they can move.
Stressful indeed.

Good luck!

Did you try to rent after sale the home to them?

You normally can rent the home back to the seller at close. This way you owen the home, but just can not move in. May be able to still do this in order to get the mortgage process over. Offer to rent back to seller for 1 dollar a month. Just remember to pay the mortgage!!!

Re: Escrow stress

Anonymous — Thu, 27 Jun 2013 13:41:41 GMT

Yep,

We will close on the 23rd and rent back to them for 1 week. Can't wait to get this process overwith. Meanwhile, I need to continue to give pay stubs and such.

Re: Escrow stress

Anonymous — Wed, 16 Oct 2013 20:19:13 GMT

I wanted to add a comment to the person who had his escrow rsised consequently morthsge payment...this happens almost every year because taxes usually go up but this year i got angry and got on phone..turned out my homowners went up..so i called ins co threatrning to go elsewhere..as it happens i just put a new roof on house which lowered my insurance significantly and left me with only a slight increase for taxes..if you have done any work on your house be sure to notify ins. Co. ..it can reduce your mortgage payment so do uour due diligence...don't pay late..they will chsrge you..i can just sbout guarantee it..