What does 'Escrow Disbursement Account in Trust' mean?
My mom just received a check from Chase Home Finance, and it only says :
Chase Home Finance LLC
Escrow Dibursement Account in Trust
For Various Mortgagors
We dont know if we are supposed to cash it or what. Does someone know what it is??
It does not come with a letter or anything explaining, that is what the check says.
- 1 decade agoFavorite Answer
the escrow accounts are moneys put on "hold" until all the numbers expenses,debits,etc are properly taken care of ,usually on the sale or purchase of property,once everything is in the "clear"any money due is given to the property's buyer or seller.if the check is in your mom's name she can cash it.hope that helps.Source(s): use to be a real estate agent
- Dawni Do RightLv 61 decade ago
It is probably a refund of excess funds in your reserve account for the payment of taxes and insurance.