Regarding my Suncoast Schools Federal Credit Union mortgage, what's the difference between the "Principal Balance" and the "Escrow Balance" ?
The Principal Balance is the current unpaid balance, not including late charges
or unpaid interest.
The Escrow Balance is the accumulation of that portion of your mortgage payment
that goes to pay taxes and insurance.
The escrow balance can become negative if the Credit Union had to pay out more
than the amount collected.
For mortgage payoffs, please call 1-800-999-5887 or 813-621-7511. If your loan
is not escrowed, speak to a Members
Contact Center rep. If your mortgage is escrowed, ask for the escrow department.