Can someone explain escrow to me?

We got a check in the mail because "Escrow account was reviewed, and an overage"

Why did this happen? I don't want the opposite to occur

Re: Can someone explain escrow to me?

You paid each month into escrow when you paid your mortgage. When your taxes were paid, there was left over money in escrow, so they sent the money to you.

I know a couple of people on here have regretted cashing that check and spending that money because the next year there is a shortage.

I would probably deposit the check, and with my next mortgage payment, put that amount that they sent you BACK into escrow (you should be able to write down how much extra you want in escrow). This is because taxes go up, so eventually it will be used. HTH

Re: Can someone explain escrow to me?

that is what I thought happend and what I was going to try and do. I would HATE for what we got back to be the opposite and not be prepared!

Thank you!