As a disinterested party to any escrow transaction, an escrow officer cannot advise a client to make or not to make their house payment. We can, however, offer some options.

Obviously, not making your house payment could cause a late charge to be assessed by the bank and quite possibly even a negative mark on your credit rating. On the other hand, making the payment within the guidelines of our payment plan will insure your credit remains unspoiled.

Often, seller's rely on a targeted close date and choose not to make their payment since the closing of escrow will include the payoff of their loan. While this may be a "safe harbour" at the beginning of the month, escrows with a projected close date falling around the payment due date may become a higher risk for late penalties.

Choosing to make your scheduled monthly payment can be handled as follows;

Send out your payment approximately 7-10 days prior to your scheduled closing date. Immediately advise your escrow officer that you have done so. This will allow appropriate time for your escrow officer to procure an updated payoff statement from your bank which will reflect your recent payment.

If you have sent the payment by means of a personal check, understand that your final closing statement may reflect "funds held" of a like amount. These funds held will insure clearance of your personal check and will be refunded to you providing your lender accepts full payoff of your mortgage.

Making the payment by means of a cashier's check will eliminate the need for holding funds after the close of escrow. Just provide your escrow officer with a copy of the cashier's check prior to the close of escrow.