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lsugrldej8
LSU Fan
Watson
Member since Sep 2006
2161 posts

Refund on homeowner's insurance when you refi?


I was wondering when you refi since you have to pay the homeowners insurance upfront do you get a refund on the previous amount of homeowners insurance you paid?

Example...homeowners was paid in May by escrow. We will be refinancing shortly and we wil be paying insurance again. Since it's basically paid double do we get a refund on the money that was paid in May?







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LSU1018
LSU Fan
Baton Rouge
Member since Feb 2007
5036 posts

re: Refund on homeowner's insurance when you refi?


You get a prorated refund


This post was edited on 11/12 at 8:53 pm


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ds1tiger
LSU Fan
Closer than you think
Member since Apr 2006
228 posts

re: Refund on homeowner's insurance when you refi?


You will be refunded your escrow balance from your prior mortgage company.





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LSU1018
LSU Fan
Baton Rouge
Member since Feb 2007
5036 posts

re: Refund on homeowner's insurance when you refi?


quote:

You will be refunded your escrow balance from your prior mortgage company.


This is correct but he will also be given a refund from the insurance company or given credit towards the new policy since it was paid for in May.






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