Fifth Third Bank

Frequently asked questions about escrow accounts

Escrow Account Basics

What is an Escrow Account?
Why am I required to have an Escrow Account?
Can I cancel my Escrow Account?
Why is a minimum balance required on my Escrow Account?
How can I open an Escrow Account?
Who can I contact with questions?

Annual Mortgage Escrow Statement

What is an Annual Mortgage Escrow Statement?
When will I receive my annual analysis?
If I pay my shortage or receive a surplus, will my monthly payment still increase?
What are my repayment options if I have a shortage?
Why did I receive a surplus check? What are my options?

Escrow Payments

What bills are paid from my Escrow Account?
Can I make extra payments specifically to my escrow account?
When are my payments due?
If my payment amount changes, will my Fifth Third Auto BillPayer® payment automatically update?
How is my monthly payment determined?
What options do I have if I can’t pay my new escrow payment?

Mortgage Insurance

What is Mortgage Insurance?
What is the process to cancel my PMI?

Tax & Insurance

Do I need to send you my tax bill?
Who should I contact if my tax or insurance amount has changed?
What happens if I don’t carry or maintain sufficient insurance?

Contact Informtion

Who can I contact with questions?