A native Californian transplanted in southern Illinois.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.
Money In, Money Out
January 5th, 2014 at 11:34 pm
January 6th, 2014 at 08:42 pm 1389040932
January 8th, 2014 at 04:49 am 1389156583
They will refund me any excess, it will just take a little time.
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.