Questions tagged [escrow]

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1answer
67 views

Escrow for postponed work

I am a first time home owner. I have a traditional 30yr mortgage with an escrow agreement for postponed repairs due to weather. The seller was required to get 2 estimates for the work to be done. ...
1
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1answer
81 views

Mortgage company refuses to send an early payment from Escrow account for the Quarterly Property Tax payment

I'm in the middle of refinancing a Mortgage. The lender looked up the title and said that there's a property tax payment due in the next few weeks on the Title and they want to see a proof of payment. ...
1
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3answers
220 views

Is it normal to want to use an escrow service to hold a wedding venue deposit?

I'll keep it as concise as possible. My fiancee and I have been planning on a particular date at a venue, it's about 2500 miles away from where we currently live (she's from there originally). It's ...
0
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0answers
19 views

what IRS form do you fill out for multi-year disability payments?

I received a multi-year disability payment from OPM relating to a whistleblower case, and they're saying that I recieved about 75000 for being a disabled federal employee, when it's 5 years of ...
2
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0answers
72 views

Escrow sent money to wrong account

I signed up for a HELOC, but the terms for me being approved for the HELOC required me to use the full balance to pay down part of my mortgage. The bank worked with an escrow company to ensure that ...
5
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1answer
144 views

Loan-to-value (LTV) ratio of 65% to remove escrow?

I just got off the phone with Wells Fargo to try to close my escrow account on my mortgage (prefer to just manage taxes & insurance myself). I'm currently at an LTV of 75%, and after doing some ...
2
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1answer
123 views

how to compute holding period on real estate

For the purposes of computing long term versus short term capital gains tax treatment, when does the holding period for real estate end? I can think of several options: At execution of the purchase ...
3
votes
0answers
27 views

USA tax treatment of additional gain from an escrowed sale

In 2016, a privately-held company in which I owned shares was partially (irrelevant, I think) bought out by a private equity firm. We paid capital gains tax on the amount received in 2016 (minus that ...
0
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1answer
1k views

How to write an earnest money check for a written real estate offer?

If I make a written offer complete with terms to buy a piece of real estate, there is the problem of how to draft the earnest money deposit. In previous purchases of real estate I have made, what ...
8
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2answers
741 views

Should we park our money in our escrow account?

We want to figure out the best place to park our money in the next 1-5 years to save for a bigger place. Our escrow account that is linked to our mortgage is a checking account that has a 1% interest ...
1
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1answer
626 views

Are there disadvantages to requesting off-schedule/early escrow analysis?

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 ...