Mortgages, Escrow, and Homestead Exemptions....oh my!

Discussion in 'Community Board' started by simba20, Mar 16, 2011.

  1. simba20

    simba20 DIS Veteran

    Aug 14, 2006
    Our mortgage is set up with an escrow account that our property tax and insurance is paid out of.

    So yesterday we got a escrow overage check in the mail for about $300.

    Should I be happy, or should I think "Hmmm, I wonder if we will have to pay something next year?"

    I also filed for a Homestead Exemption last week. What exactly does that do to our property taxes? If it lowers them, then should I not worry about the possibility of paying any money this year?

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