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Message
Refund on homeowner's insurance when you refi?
Posted on 11/12/12 at 7:40 pm
Posted on 11/12/12 at 7:40 pm
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?
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?
Posted on 11/12/12 at 8:52 pm to lsugrldej8
You get a prorated refund
This post was edited on 11/12/12 at 8:53 pm
Posted on 11/13/12 at 6:24 am to lsugrldej8
You will be refunded your escrow balance from your prior mortgage company.
Posted on 11/13/12 at 9:27 am to ds1tiger
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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