How to Add Money to an Escrow Account
When you buy a home, your mortgage company may require the creation of an escrow account. The funds are used to ensure that your property tax payments and insurance premiums are paid in a timely manner. Usually the holder of the escrow account makes these payments annually or semi-annually, but the homeowner pays into the account monthly. Adding money to an escrow account is similar to paying any other bill.
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Instructions
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Contact the manager of your escrow account or your mortgage company to obtain payment information such as your account number, payment amount and the address where you should send the payment. This information should also appear on your monthly mortgage statement.
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Send the payment in the approved form -- usually a personal check, money order or cashier's check -- to the holder of the escrow account. Include your account number and any other required information.
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Follow up with the holder of the escrow account to ensure the payment has been received and applied to your account.
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Tips & Warnings
You can make additional escrow payments if you expect a shortage in the account. Include a note stating that the mortgage company should apply the money to your escrow account.
