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 Think of an escrow account as a
special checking account. Each month a certain amount of money is
set aside in your escrow account to pay real estate taxes, hazard
insurance, mortgage insurance, and other escrow related items,
when they are due. Your escrow payment is part of your total
monthly mortgage payment. It is collected along with the principal
and interest portion of your mortgage payment.
Each year, your account is reviewed to estimate future payments to
and disbursements from your escrow account. The process of
reviewing your account is referred to as escrow analysis. The
analysis method required by the Real Estate Settlement Procedures
Act (RESPA) for residential loans is called aggregate analysis.
The aggregate method of escrow analysis is similar to balancing
your checkbook. Payments go into and disbursements go out of your
escrow account to give you a monthly escrow balance. RESPA
requires lenders to provide borrowers with an Initial Escrow
Account Disclosure Statement within 45 days of closing, and an
Annual Escrow Account Disclosure Statement at least once every
twelve months thereafter. These statements are designed to provide
information regarding the anticipated tax and insurance activity
in the escrow account.
The Escrow Disclosure Software prompts the user through a series
of questions and then fills out the Escrow Disclosure form
using the Aggregate Accounting method. The software works with
an initial, annual, or short-year Escrow Disclosure statement. Print or print preview documents on letter size paper.
Save and retrieve documents for future use.
Aggregate Escrow Adjustment Software is FREE (line 1008 of
the HUD-1 RESPA).
Technical support and updates are
FREE within the first year from the date of purchase.
Unconditional money back guarantee within the first thirty (30) days
from the date of purchase.
You can download the software from this
website or we can e-mail you the software. When you order, we
mail out a CD with the software along
with other titles.
All of our software functions on
any Windows operating system. The software has been tested on
Windows 95, 98, 2000, NT, ME (millennium edition), XP and 2003. The
software functions on networks or stand-alone personal computers
and is compatible with all printers.
RELATED LINKS
Aggregate Escrow Account Questions
Escrow Disclosure Common Terms
Additional
helpful information is located
here.
30-Day Unconditional Money-Back Guarantee!
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