When you have a mortgage, your lender often holds money in an account called escrow to pay your property taxes and homeowners insurance on your behalf. Each year, your lender reviews how much they actually spent and compares it to what they collected from you. If they collected more than they needed, you're may have access to to a refund of that overage. Understanding how escrow refunds work helps you know what to expect and what happens to that money.
The articles here explain how lenders calculate escrow refunds, what timeline you can expect, and what your options are when you receive one. You'll learn why escrow accounts exist, how to read your escrow statement, and what to do if you think your refund amount is incorrect.