What is "Last escrow analysis date"?
I am looking at the 'Escrow Details' on my mortgage and the "Last escrow analysis date" is listed as as 05/01/15. Obviously that date has yet to come. So what does this date represent?
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Every once in a while, the lender will change the amount of your escrow payment. So, for example, if your property tax goes up next year, the bank will raise your escrow payment accordingly.
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