THIS IS A STATEMENT OF ACTUAL ACTIVITY IN YOUR ESCROW ACCOUNT FROM MARCH THROUGH JANUARY.(LAST YEAR'S PROJECTIONS ARE NEXT TO THE ACTUAL ACTIVITY.)
Your monthly mortgage payment for the past year was $6,138.00 of which $5,187.00 was for principal and interest and $951.00 went into your escrow account.
3,280.23-
(TAXES) NOV 2024
The following statement of activity in your escrow account includes anticipated payment of past due escrow payments.
DEC 2024
An asterisk (*) indicates a difference from a previous estimate in the date or the amount.
Last year, we anticipated that payments from your account would be made this period equaling $7,179.43. Under Federal law, your lowest monthly balance should not have exceeded $1,196.57 or 1/6 of anticipated payments from the account, unless your mortgage contract or State law specifies a lower amount. Under your mortgage contract and State law, your lowest monthly balance should not have exceeded $1,745.38.
2,459.15
2025 Payment
2025 Payment
2026 Payment
Your ending balance, from the last month of the account history, is ($5,317.23). Your starting balance according to this analysis should be $3,075.52.
This means you have a deficiency of $5,317.23. This deficiency may be collected from you over a period of 2 months or more unless the deficiency is less than 1 month's deposit, in which case we have the additional option of requesting payment within 30 days. We have decided to collect it over 12 months.
After considering the deficiency, you still have remaining shortage of $3,075.52. This shortage may be collected from you over a period of 12 months or more unless the shortage is less than 1 month's deposit, in which case we have the additional option of requesting payment within 30 days. We have decided to collect it over 12 months.
YOUR FIRST MONTHLY MORTGAGE PAYMENT FOR THE COMING YEAR WILL BE $6,500.00 OF WHICH $5,187.00 WILL BE FOR PRINCIPAL AND INTEREST AND $1,313.00 WILL GO INTO YOUR ESCROW ACCOUNT. THE TERMS OF YOUR LOAN MAY RESULT IN CHANGES TO THE MONTHLY PRINCIPAL AND INTEREST PAYMENTS DURING THE YEAR.
IF YOU HAVE ANY QUESTIONS IN REGARDS TO YOUR ANNUAL ESCROW ANALYSIS, PLEASE CALL THE LOAN OPERATIONS DEPARTMENT @ 800-359-8092 EXT 2070. THIS CHANGE IS MADE IN ACCORDANCE WITH THE TERMS OF YOUR LOAN