Wednesday, May 28, 2014

Escrow Surplus Happy Dance

Back in 2006 and 2007, I remember getting unpleasant letters from my mortgage holder which said something like, "Your escrow fund is less than your estimated taxes for next year.  If you send us $300, then your mortgage will only go up by $50 a month".  It was quite the shocking surprise.  I didn't know mortgages could go up.  This year, I got the good letter that said this:

Woo-hoo!  Escrow surplus!  It went on to say that my monthly payment will go down by $6.  Money back AND a lower payment!

So, what will I do with my $102?  Well, unfortunately, I just realized that I am responsible for keeping my part of the alley weed-free.  It's a jungle back there.  If someone complains, I can be fined $100 to start.  I called a landscaper and will find out the quote tomorrow.  I hope it isn't too much because I really don't want to spend my early mornings on the weekend hacking down weeds and cactus.  I mean, I will if I have too.  I do own a weed-eater and a rake but sometimes I would rather pay other people to do things especially when there could be snakes in there.  Ick.


laura said...

Woo on the $100...but definitely use it to pay someone to do the alley!

Daizy said...

I need to multiply that $100 x 6 for the alley. I can't believe they want $600 for weeds and cactus but then cactus are painful.

The Executioner said...

Are you required to escrow? You could always pay your taxes, etc directly and avoid the escrow adjustment roller coaster.

Daizy said...

No, it isn't required, Executioner, but it saves me from writing 2 more least until I pay off my mortgage!