Sometimes taxes and insurance are higher than expected. To be prepared, you're required to keep a minimum balance in your account at all times. This helps make sure any unexpected increases are covered. Your required minimum balance is 2 months'-worth of escrow payments. When your yearly analysis projects that your account will fall below this minimum amount, a projected shortage results.
What minimum balance is required for my escrow account? Print
Modified on: Fri, 23 Jun, 2023 at 3:29 PM
Did you find it helpful? Yes No
Send feedbackSorry we couldn't be helpful. Help us improve this article with your feedback.