Legal Question in Real Estate Law in North Carolina

What is the state law pertaining to amount to be held in escrow for paying taxes and insurance, like is it required to have a 2 month's cushion plus what you pay into escrow monthly?

Asked on 3/22/19, 6:17 pm

1 Answer from Attorneys

Kenneth Love Ken Love Law

This is governed by Federal Law...RESPA. There is a lot to this law, but yes, it does allow the servicer to keep a cushion for the escrow payments.

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Answered on 3/23/19, 4:35 am

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