Humble Inquiry From New Member

Hi, I wish I had found this forum before I bought my house. In any case, this is my question--I have had my house about 2 1/2 years and refinanced this last fall. About 6 weeks after, I got a small amount deemed 'cash-back' and had the vague impression this had something to do with the escrow (not sure on that). So, is this taxable as other income? Just want to do the right thing. Thanks! wink

Comments(2)

  • DaveT25th January, 2004

    Escrow refunds are not taxable income, it is a refund of your unused contributions to the escrow account maintained by your former lender.

  • astanton25th January, 2004

    You've made me very happy, DaveT! Plus now I understand better what was going on--thank you!! Arlene
    Quote:
    On 2004-01-25 19:28, DaveT wrote:
    Escrow refunds are not taxable income, it is a refund of your unused contributions to the escrow account maintained by your former lender.

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