Received Escrow Disbursement check after foreclosure

New Hope

LoanSafe Member
Nov 28, 2016
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I am in PA. My home was foreclosed on March 2018. It took about 15 months to foreclosed the property.
The home was sold to third party. I stop making payment for 16 months.
Today i received a escrow refund check from bank. Its about $1500. I dont know if its safe to spend the money.

I doubt if there were any money left in escrow account after paying taxes.

What am i missing here?
 

Jzone

LoanSafe Member
Jun 20, 2017
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Sounds like your bank was paid for the foreclosed property and there was a surplus. Was the escrow account for property taxes?

Could be there were excess funds in the escrow account, new buyer was required to pay any back taxes to get clear title to property and the excess went back to you.

You could always call the bank and ask. I would just cash it.
 

New Hope

LoanSafe Member
Nov 28, 2016
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Yes, first mortage was paid in full by third party. I will check with the bank tomorrow. Thank you for reply.
 

OneHugeMess

LoanSafe Member
May 30, 2016
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You need to contact the foreclosing attorney, and law firm that carried out your foreclosure. You want a itemized accounting of disbursements to lien holders, and fees. There might be a surplus of money your entitled to.