In the fall of 2021, Michael McCormick provided subscribers with an EXCELLENT, expository, seven-part outline on mortgage escrow.   This information is just as relevant today as when we first published it with one important update . . . When the next escrow analysis is performed and the servicer has received less than 12 payments of escrow (and often zero, as is often the case after the borrower received a forbearance during the COVID pandemic), the escrow balance will be far less than anticipated!!

Part I discusses projecting income tax deductions on the means test when the year of filing situation looks much like last year. Part II looks at things when they aren’t the same year over year.

“Several recent bankruptcy cases have considered the circumstances under which funds held in, derived from, or contributed to a retirement account may be exempt from the bankruptcy estate.”