mortgage/can escrow overage be applied toward the principal?

Question

i receive an escrow overage check every year.my x-wife name is on the check.the mortgage company will not remove her name even though i have a devorce degree saying that the escrow account is mine

Answer 1

First of all, what does your mortgage papers say about the mortgage -- can you go talk to the mortgage holder and see what they can do about the escrow refund? In some cases, they MAY be willing to redirect the escrow refund to additional principal pay-down ... but you WILL have to initiate the conversation.

YOU need to refinance the mortgage to eliminate this problem -- and you should do that soon. That is the only way you are going to get the ex's name off the escrow refund check.

Next ... have you taken your ex-spouse's name off the DEED too? That is another problem that you need to look at shortly -- because (and god forbid this happening -- it was my own worry after divorce) -- if the home is fully designated your property after the divorce -- then you need to NOT only Refinance the Mortgage, but to also first get the Home's Deed also redone to ONLY be in your name ...

After all, do you want your ex to PROFIT more AFTER the Divorce IF something should happen and you die?

Answer 2

is your wife's name still on the mortgage? if so the only way you can rectify this is to refinance in just your name.