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What Are Lost Escrow Amounts?

Big purchases that require big money typically rely on what is known as escrow for ensuring that the funds are safe while the deal is in progress. Most people think of home buying when they think of escrow, and that would be an excellent example of this concept at work. The process of buying a home can be long and tedious. There is much to consider and the deal typically takes weeks or months to be finalized. Instead of the buyers transferring the thousands or millions of dollars directly to the home seller, the money can be put into escrow until the deal is finalized and the deed of the home finally changes hands.

Escrow is very handy for protecting both parties in case a deal goes sour, but it can also cause problems. One problem that escrow seems to be contributing to is the problem of missing money. It seems that lost escrow amounts are gathering at the treasury level and the original owners of this escrow money have no idea that it’s missing in the first place. Until those rightful owners come forward, lost escrow amounts will continue to grow, possibly until they are completely out of hand.

 

Lost Escrow Amounts Are Piling Up

For the purpose of fully understanding lost escrow amounts, let’s look at an example of how escrow money might go missing. There is a townhome for sale on the Upper East Side and a couple really wants to buy it. They put the required amount into escrow and the deal is set in motion. Come to find out, the townhome is infested with bedbugs. The couple, not wanting to go through with the deal after all, gets a full refund. The problem is that the bank that facilitated the escrow holding left some money behind. Due to a bank error that is certainly not in the couple’s favor, the husband and wife team now has $1000 in lost escrow amounts being held in a treasury vault somewhere. To get this money back, the couple has a few options.

 

How to Obtain Lost Escrow Amounts

Understanding lost escrow amounts is important, but so is being able to collect that money when you suspect that you have contributed to the problem. The good news is that a website has been commissioned called Cash Unclaimed that promises to make quick work of the lost escrow amounts problem.

Simply search the Cash Unclaimed website and you could potentially recoup every dime you’ve lost along the way. If you’ve recently purchased a house or if you were about to go through a deal that didn’t quite go through, visit Cash Unclaimed. Understanding lost escrow amounts is one thing, but being able to hold your lost money in your hands is quite another. Use Cash Unclaimed today and you might find yourself holding hundreds or even thousands of dollars in your hands tomorrow.

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