My property tax was cut in half due to a homestead exemption and I asked my bank if I could request to have an escrow analysis now and not have to wait until January to receive my new lower payment and refund. My bank responded with a quick estimation of a lower payment and a potential refund amount and I was very pleased with the numbers. They also mentioned that they don't recommend an off-schedule escrow analysis because the next one will be completed within 60 days.
Sure, it's only 60 days, but having the money sooner than later is always better. I can put that money to work over those 60 days.
So is there a disadvantage to having an off-schedule escrow analysis completed? Or is the bank simply making a little bit more money off of me by keeping my escrow balance higher for that period of time? (This is my gut feeling).
Thanks for any input!