Everything You Need To Know About Mortgages

Is a mortgage escrow refund considered as income on my taxses?

I paid off my house mortgage in 2011 and was send a refund check for the balance in the escrow account. I received a tax form for the interest I paid on the loan and the taxes & homeowners insurance the bank paid. But, it did not mention the amount of the escrow refund.

Escrow funds are your money that has been taxed. Your lender is required to return this to you after being paid off within a certain period of time.

Apparently your former lender has done this.

For tax and legal matters you should consult with your tax consultant or attorney.

I hope this has been of some benefit to you, good luck.

“FIGHT ON”

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