Escrow 102 – Part 1 of 4

By Michael J. McCormick, Esq., McCalla Raymer Leibert Pierce, LLC (Roswell, GA)

Introduction

In the prior articles (i.e., Escrow 101 Part 1, Escrow 101 Part 2, and Escrow 101 Part 3), I outlined the proper steps in conducting an escrow analysis, as well as some of the mortgage servicer’s obligations and options for having a borrower cure an escrow shortage or escrow deficiency.

In this article I will discuss a mortgage servicer’s obligations with respect to the escrow account upon learning that the borrower has filed a bankruptcy case. In a subsequent article . . .

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