Escrow cushion

Posted By: Tryin-2-Comply

Escrow cushion - 02/02/04 05:47 PM

Can you change an account that started with a 1 month cushion to contain a 2 months cushion?
Posted By: David Dickinson

Re: Escrow cushion - 02/03/04 03:06 AM

Yes. You can accomplish this an the time of the annual escrow analysis or by conducting a short-year analysis.
Posted By: Tryin-2-Comply

Re: Escrow cushion - 02/03/04 02:29 PM

Thank you!!!!!!!
Posted By: Andy_Z

Re: Escrow cushion - 02/03/04 03:29 PM

I would add though that you need to see what was contracted for. Are your loan documents specific to a cushion or is it worded such that you have flexibility? I have seen both a reference to a number of months and to a maximum allowable by law.