Collection Escrow
Escrow Accounting Services for Private Contracts
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What we do! |
- Act as a neutral third party between Buyer and Seller or Debtor and Creditor.
- Process payment from the Buyer/Debtor quickly and accurately.
- Provide account flexibility such as balloon payments, interest rate and payment changes, late charges and prepayment penalties.
- Disburse funds according to instructions received from the Seller/Creditor.
- Send a comprehensive statement of the account to the Seller/Creditor each time a payment is received.
- Provide the Buyer/Debtor with an annual, itemized statement of the account.
- Complete all interest income and expense reporting required by the IRS.
- Furnish IRS Form 1098 and 1099 INT to the Buyer and Seller for tax purposes.
- Setup reserve account for payment of taxes and insurance.
- Safekeeping original documents.
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What It Costs: |
- The set-up cost is $100 for most contracts, including safekeeping of original documents. Monthly service charges start at $15 for an account with a monthly payment and one disbursement.
- *Services to accommodate unique terms of some agreements are available based on special instructions. Additional fees are based on the services requested. Call (503) 684-6556 today for more details.
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Mortgage Calculator
This calculator is a tool provided by Guardian Contract Services for information purposes only.
An amortization schedule is accurate ONLY if full payments are made on time.
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