Get the free Positive Escrow Balance Letter - Statewide Short Sales

Owen Loan Servicing, LLC PO Box 780 Waterloo IA 507040780 OWEN.MORTGAGEBANKSITE.COM Date RE: Account Number Property Address Dear (Name): Your loan is under review for a short sale, which means that

How to fill out positive escrow balance letter

How to fill out a positive escrow balance letter:

1. Start by addressing the letter to the appropriate recipient, such as the lender or mortgage company. Include their name, title, and company address.
2. Begin the letter with a formal salutation, like "Dear [Recipient's Name]," or "To Whom It May Concern."
3. In the first paragraph, clearly state the purpose of the letter, which is to inform the recipient about the positive escrow balance.
4. Provide the necessary details about the account, including the account number, property address, and borrower's name. This information will help the recipient identify the specific escrow account.
5. Explain the concept of an escrow account and briefly mention how it functions in relation to the mortgage payment. This will help the recipient understand the purpose of the positive escrow balance.
6. Emphasize that the purpose of the letter is to request instructions for the positive escrow balance. For example, state that you would like to know if the funds should be applied towards future mortgage payments, refunded to the borrower, or used for other purposes.
7. Encourage the recipient to provide any necessary forms or documentation required to process the requested action. Include contact information, such as a phone number or email address, so they can easily reach out to you.
8. Conclude the letter by expressing gratitude for their attention to the matter and state that you are looking forward to their prompt response.

Who needs a positive escrow balance letter?

1. Homeowners or borrowers who have an escrow account associated with their mortgage will need a positive escrow balance letter.
2. Lenders or mortgage companies may request a positive escrow balance letter from borrowers to ensure accurate accounting of funds held in the escrow account.
3. Escrow agents or third-party service providers who handle escrow accounts may also require a positive escrow balance letter as part of their record-keeping process.

In summary, a positive escrow balance letter is necessary to inform the recipient about the existence of surplus funds in an escrow account and to request instructions for the utilization of those funds. Homeowners, lenders, and escrow agents often require this letter to maintain accurate financial records and facilitate appropriate actions regarding the escrow account.

For pdfFiller’s FAQs

What is positive escrow balance letter?

A positive escrow balance letter is a document typically provided by a financial institution or mortgage lender to inform the borrower that there is an excess amount of funds in their escrow account.

Who is required to file positive escrow balance letter?

The financial institution or mortgage lender holding the escrow account is typically required to file the positive escrow balance letter.

How to fill out positive escrow balance letter?

The positive escrow balance letter can usually be filled out by providing the borrower's name, account number, the amount of excess funds in the escrow account, and any additional relevant information.

What is the purpose of positive escrow balance letter?

The purpose of the positive escrow balance letter is to inform the borrower of the excess funds in their escrow account and provide transparency regarding the balance.

What information must be reported on positive escrow balance letter?

The positive escrow balance letter should report the borrower's name, account number, the amount of excess funds, and any other relevant details regarding the escrow account.

Where do I find positive escrow balance letter?

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