Question Regarding Escrow Account Refund

Mark Phillips mark at phillipsmarketing.biz
Tue Jan 6 11:55:37 EST 2015


I sold a property that used an escrow account to accumulate money for
county taxes and insurance payments. I received a refund from the bank for
the escrow account, so I applied that refund to the balance in the escrow
account. However, the escrow account now shows a negative balance of $600.

Looking at the last escrow statement, I see a deposit was made in August
for $600. However, I did not make a payment in August, as the property
transfered at the end of that month, so all the August payments were made
through the title company. I looked through the final statement from the
title company, and the $600 must be included in one of the numerous fees
and transactions they made.

I don't want to unravel all the transactions, as I don't think anyone made
a mistake. I would like to post an entry for $600 to the escrow account to
zero it out, but I don't know where the money would come from.

Thanks!

Mark


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