if i refinance what happens to my escrow

If I refinance with a different mortgage company, what happens with my escrow from my old mortgage company? I am considering a refinance with a different mortgage company. I was told that my old mortgage company will send me a refund check for my money in escrow.is this true?

At the end of each year, your lender analyzes your escrow account, determining if your escrow payment needs to change. This can happen if your insurance or property tax bills rise. If you have extra.

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Some no-cost refinances will fund your new escrow account AND let you keep the old one. However, you might not get as good a rate. For example, Rate One offered me two options. They would pay for my new escrow account (and interest which we’ll get to next) for a 3.5% refinance, but not for 3.375%.

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Main Menu; Sign up for Free · Credit Repair · Credit/Debt Analyzer · My LendingTree; Resources. If you decide that you no longer want an escrow account, or you sell. will be covered if something catastrophic happens to your home. your first mortgage payment on a purchase or a new refinance loan,

Disclosing the Closing Costs. Lenders provide a Good Faith Estimate of the fees involved in your refinance within 3 business days of your application. You can use the estimate to shop and compare loan fees among lenders and third-party services, such as title and escrow.

Quick question: my refi was supposedly "funded" this past friday. I assume that means the money from my new lender was wired to escrow. Per your timeline, I assume funds will be send to my old lender or Monday along with escrow paying my back property taxes that were required to be paid, and other funds required to be disbursed via escrow.