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What is an escrow account? Think of it like a savings account dedicated to the tax and/or insurance expenses required for your property—and as your loan servicer, we help you manage it. Depending on the terms of your mortgage, your escrow account m...
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What is an escrow account? Think of it like a savings account dedicated to the tax and/or insurance expenses required for your property—and as your loan servicer, we help you manage it. Depending on the terms of your mortgage, your escrow account m...
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Last Updated: 09/01/2023
in In-Depth FAQs
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If you’re interested in recasting your loan, here’s a rundown of the process and what to expect: Contact Customer Care to initiate the recast request, specifying the amount of your principal reduction payment(s). We’ll confirm whether your lo...
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Last Updated: 08/23/2023
in Homeowners Financial Hardship Need M ortgage A ssistance ? Whether you ’re experiencing hardship due to loss of employment, income reduction, illness or other related impacts , here are your options that may be available to you based on investor guidelin...
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Last Updated: 08/17/2023
in Homeowners Financial Hardship If you foresee there isn’t a financially feasible way to keep your home, here are more options for you to avoid the foreclosure process. Traditional Sale: Work with a real estate agent to s ell your home ...
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Last Updated: 08/17/2023
in Homeowners Financial Hardship COVID-19 Resources If you have a hardship related to COVID-19 , visit the CFPB’s mortgage and housing assistance portal . Homeowner Assistance Fund (HAF) in the U.S Department of the Treasury and Nati...
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What is an escrow surplus? All escrow accounts have a minimum required balance, which equals your expected tax and insurance expenses plus some extra money in case your bills go up – this is called a cushion. If your escrow account balance is mor...
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What is an escrow shortage? All escrow accounts have a minimum required balance , which equals your expected tax and insurance expenses plus some extra money in case your bills go up – this is called a cushion. If your escrow account balance is e...
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What are the reasons to refinance? The most common reason is to get a lower interest rate, resulting in lower monthly payments and possibly a shorter loan term. Other reasons to refinance include switching loan types, eliminating private mortgage...