Escrow accounts are built into mortgage loans to ensure that property taxes and homeowner\u2019s insurance premiums are paid on time. The lender collects a portion of these costs with each monthly mortgage payment and holds the funds in an escrow account. Sometimes, the amount collected for these expenses turns out to be more than what is needed, resulting in an escrow surplus. When this happens, the borrower may be entitled to an escrow surplus refund.<\/p>\n