I recently had a situation where the lender on my personal home sent a letter saying that our escrow account was short. Like, a lot short. It turns out the lender didn’t follow its normal method of contacting us, so we had no idea once our taxes were paid for 2020 that our escrow accounts were not going to have enough money remaining in it.
I use the word “save” loosely.
This afternoon, I received an email from a recent first-time buyer, who asked:
I did a transaction recently where the buyer decided not to establish escrow. Why would a buyer decide to do this?