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When a loan is paid off, the mortgage company gives an estimated payoff amount. This is based on a specific date. If the payoff date is before that date, the interest amount will be less than estimated. The excess payment results in a refund called an ESCROW BALANCE REFUND.

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16y ago

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If you get a loan from a credit union and they put gap insurance in it can you get a refund?

It depends. If you paid it all upfront in cash for the life of the loan and you trade the car in early you might be entitled to a small refund. If the gap insurance is included in the car payment then no. There is no refund at that time, because you are paying only for what you use.


What should I do with my tax refund?

When deciding what to do with your tax refund, consider saving or investing it, paying off debt, or using it for a specific financial goal like a vacation or home improvement. It's important to make a plan that aligns with your financial priorities and goals.


When is escrow overage returned to borrower?

Escrow overage is typically returned to the borrower when the escrow account has a surplus after all property taxes and insurance premiums have been paid. This usually occurs at the end of the escrow analysis period, which is often annually. The lender will review the account and, if there is an excess amount, issue a refund to the borrower, usually within a few weeks of the analysis. It's important for borrowers to check their lender's specific policies regarding escrow overages, as procedures can vary.


Do you get an refund check back from FAFSA?

You get the refund from your school if there is a remaning balance once all your fees have bene paid off. Mnay school's work with a company called Higher-One that distributes the refund's. (paper check/debit card/bank transfer.)


WILL the borrower BE hELD responsible for property taxes during foreclosure?

It depends on whether or not they have already been paid. Some sellers request a partial refund for any taxes already paid. Others will pay them for you. Just depends on what the seller wants to do really.

Related Questions

When a medical practice receives an overpayment from a health plan it callef what?

Issues a refund


Income tax Refund status check?

Income tax refund is the money you get back when you’ve overpaid your taxes through TDS, TCS, or advance tax. Think of it as a refund for paying too much.


What is the process by which individuals have their federal income tax collected?

1. the employer withholds estimated taxes 2. the taxpayer files a tax return the government receives a tax payment or gives a tax refund 3. the government receives a tax payment or gives a tax refund


In the state of Indiana if a bank reposssess the vehicle and the sale of the vehicle ends up in a surplus situation does the bank need to refund the profits of the sale to the borrower?

NO


What is the definition of a federal tax refund?

A Federal Tax Refund is when the Government pays you back money it has technically borrowed from you during the previous year without paying you interest.


How it is called partial refund?

It can be called a resale.


What is an assisted refund mean?

An assisted refund refers to a situation where a customer receives help from a service representative or automated system to process a refund for a purchase. This assistance can include guidance on the refund process, troubleshooting issues, or directly processing the refund request. It is often used in retail or e-commerce to enhance customer satisfaction and streamline returns.


Do you get a refund for paying child support?

Not unless you overpaid. I'm curious to know why you think you should.


How can you get car insurance coverage without paying full year premium after cancellation?

They refund you the remainder of the premium not used for the year.


Can IRS take your refund even if you are paying them monthly with voluntary payroll deduction?

If your payment is for a balance owed to the IRS then yes, they will take any money due to you from a refund and apply it to your balance. Should your balance due be less than what you owe them you should receive a refund for what's left.


If you get a loan from a credit union and they put gap insurance in it can you get a refund?

It depends. If you paid it all upfront in cash for the life of the loan and you trade the car in early you might be entitled to a small refund. If the gap insurance is included in the car payment then no. There is no refund at that time, because you are paying only for what you use.


Can I get an advance on my tax refund Where can I go in Oklahoma City?

Yes, you can get an advance on your tax refund. Some places that can prepare your taxes can also give you something called the Rapid Refund.