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Private Lending & Conventional Mortgage Advice

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Frank S.
  • Real Estate Investor
  • Houston, TX
7
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54
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Payoff Escrow Shortage?

Frank S.
  • Real Estate Investor
  • Houston, TX
Posted Jan 31 2017, 07:39

Received an annual escrow account disclosure statement for my home which I just purchased 7 months ago. Says there's a total escrow shortage of $446.18. I can either pay that amount in full or spread that amount over 12 months and pay an extra $37.18 on my monthly mortgage.

What should I do if my plan is to move from this home in 3-5 years? Thank you in advance for any insight!

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