Sorting through the mail yesterday afternoon I got quite nervous when I saw a piece from my mortgage company with a big red "Statement Enclosed" stamp on the outside. Mental check, "Did we pay the mortgage this month?", "Yes", "Did we pay the mortgage last month?", "Yes", "Is there some kind of fee associated with the account that I'm supposed to pay?", "Not that I'm aware of.". So, with some bit of trepidation, I opened the envelope and scanned its contents.
Woohoo! Escrow refund to the tune of $1,000! I mean, shame on them for holding so much extra of my money in escrow for the past year but woohoo unexpected cash! And, they are reducing my mortgage payment by about $78 a month to account for the lower amount needed in escrow. We will continue paying what we were before, which was greater than the amount due, but this means we'll be paying off an additional $934 a year of principal with no additional out of pocket! Score!
Remember Sammy Jankis!