Escrow 102 – Part 4 of 4

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

The Shortage-Only Arrears Claim

Occasionally, running the escrow analysis right after the filing of the bankruptcy case leads to an escrow shortage even though the debtor might be current with respect to regular mortgage payments. Although the debtor may argue that it is impossible for there to be an escrow shortage when the debtor is current with respect to payments, there is nothing inappropriate about the servicer filing a proof of claim where the arrears in Part 3 of the Form are comprised . . .

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