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Money In, Money Out

January 5th, 2014 at 11:34 pm

Yesterday I received a check for $160.00 from my part-time job and have sent it off to E Fund.

For my new homeowner's policy and new auto policy, I charged a total of $1,068.90. Yesterday, I received a credit to my CC in the amount of $184.82 from the old auto policy. I have transferred 1068.90 - 184.82 = 884.08 from CurveBall to pay the credit card. I am still waiting for the old homeowner's policy to refund $912 to my escrow account. When that happens, I will request a refund of the overage, and that money will go back to CurveBall. I expect it will be at least a month before all the dust settles.

So many hoops, but worth it for the $300+ savings.

This is the downside to having an escrow account. However, I do find it convenient for the most part. Also, I enjoy the 2% interest it earns.

3 Responses to “Money In, Money Out”

  1. rob62521 Says:

    Two percent is better than next to nothing most other accounts earn.

  2. ND Chic Says:

    Interesting. Escrow accounts aren't allowed to accumulate interest here. Can they just refund you instead?

  3. Petunia 100 Says:

    Hi ND Chic. I am expecting my property taxes to rise this year, and don't think I will really get to pocket any of money I saved from switching policies.

    They will refund me any excess, it will just take a little time. Smile
    California requires that escrow accounts earn interest. The 2% is spelled out in my loan documents. I don't know if that varies from loan to loan or not. I have owned 2 other houses before this one, but I must not have paid attention.

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