Escrow 102 – Part 2 of 4

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

The History of Escrow Treatment in Bankruptcy

Prior to 2008

Unfortunately, the case law in this area is sparse. The earliest reported case I found discussing a mortgage servicer’s obligations with respect to escrow accounts after the filing of a bankruptcy case was McCormack v. Federal Home Loan Mortg. Corp. (In re McCormack),1 wherein the court stated “they should have zeroed out the escrow account post-confirmation, i.e., to start out at zero, to exclude . . .

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