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How much escrow cushion is allowed?

Question: 
How do we know when a cushion is allowed?
Answer: 

Your loan documents will indicate if a cushion is to be kept, and in what amount. RESPA tells us a 1/6th of anticipated payments cushion is permitted, but your documents should also provide for the cushion. And don’t forget state laws, which could be more restrictive than RESPA.
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Escrow Accounts A to Z

First published on 10/07/2018

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