Updated over 4 years ago on . Most recent reply
What to do with escrow refund
I just closed on a refinance of one of my properties and I'll be receiving an escrow refund from my old lender. It will be enough to pay myself back for the minimal closing costs and have hundreds left over. What should I do with the money? Add it to my reserve fund? Pay down principal on my new loan? Drop in the escrow account on my new loan? Add to fund for down payments on new acquisitions? Other thoughts? Thanks!