FHA Streamline
What happens to my current escrow account?
When your current loan is paid off, your existing servicer generally returns your remaining escrow balance to you.
Your escrow account holds money your servicer has been collecting from you for property taxes and homeowners insurance. When your current FHA loan is paid off as part of the Streamline, your prior servicer reconciles that account and generally sends you the remaining balance — separately from your new loan. Your new loan will then establish its own new escrow account, funded at closing. The timing of your refund depends on your prior servicer's own process.
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