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#1571834 - 06/29/11 08:36 PM escrow change
nikki_compliance Offline
Platinum Poster
Joined: Mar 2010
Posts: 520
NM
we sent out our short term statements a few months ago customer called and said he did a new tax evaluation and he won his case and the taxes are now lower than before, and customer wants us to redo his analysis to lower his escrow payment or keep it at original amount before statement was sent out what would i need to do in this case?

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#1571865 - 06/29/11 09:04 PM Re: escrow change nikki_compliance
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
You can certainly do another short year statement with the new tax amount. Or you can leave it as is and analyze it at year end.
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David Dickinson
http://www.bankerscompliance.com

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#1571883 - 06/29/11 09:19 PM Re: escrow change David Dickinson
nikki_compliance Offline
Platinum Poster
Joined: Mar 2010
Posts: 520
NM
can i change payment back to what it originally was or in order to do this i will need to do a statement. also if i do a short term will i have to make his annual statement for june or can i leave it in april when all our escrow annual's go out

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#1572117 - 06/30/11 02:16 PM Re: escrow change nikki_compliance
Always In Training Offline
Diamond Poster
Joined: Jul 2006
Posts: 1,115
Where the Green Grass Grows
In order to change his escrow payment, you HAVE to do an analysis. You can't just change it. You can do a short year statement every month if you wanted (but why?), so next April would be okay as it's shorter than 12 months.

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