Frequently Asked Questions (FAQs)

If you have questions about your loan with The Money Source Inc. and would like to speak to someone, please give us a call at (866) 867-0330. Our team members are available Monday – Friday 8:00 am – 9:00 pm ET and Saturday 8:00 am – 12:00 pm ET to help you.


What the heck is escrow?

Ok, we’re not going to pretend like this is an easy one to understand. No one would say escrow is the most straightforward part of a home loan. But don’t worry, we’ve got you covered. Click here here and get to know everything escrow!

What is Escrow?
Simply put, an escrow account is like a separate side account that’s there to cover your property taxes and/or your homeowner’s insurance. Think of it like a safe money stash that your lender holds for you to pay for property taxes and homeowner’s insurance. Learn more.

Let's break this down

The review
Once every year, we sit down and review your escrow account to make sure that it’s in excellent shape for the upcoming year. Learn more.

Property taxes (paying just got easier)
An escrow account takes care of another big payment you have: property taxes. And this makes paying your property taxes a cinch (and who doesn’t want that!). Learn more.

Homeowner’s insurance (simplify your payment)
The biggest advantage to having an escrow account is that your homeowner’s insurance is included in your monthly mortgage billing statement—making payments easier to manage. Learn more.

If there is a shortage in my escrow account, what can I do?

You may pay the shortage in your escrow account by phone 866-867-0330 (a processing fee may apply) or by mailing it to the address below.

The Money Source Inc.
ATTN: Escrow
500 South Broad St. Ste 100A
Meriden, CT 06450

Be sure to include your Escrow Account Shortage Payment Coupon. On the coupon, you have the opportunity to identify your payment option: Option 1, Pay shortage in full or Option 2, Make a partial payment towards shortage.

If you do not choose Option 1 or Option 2, the shortage will be automatically spread over 12 months.

If you are current on payments, you may also pay online. Click here to sign into to your account.

And of course, if the shortage causes a financial hardship and you feel that you cannot afford the increased payment amount, please call our Customer Care Department at 866-867-0330 right away, and we’ll be happy to discuss options that are available to you.

What should I do if I receive a tax bill?

All you need to do is mail or fax your tax bill to the address below. Please include your loan number.

The Money Source, Inc.
ATTN: Property Taxes
95 Methodist Hill Drive Suite 100
Rochester, NY 14623

Why did I receive an escrow overage check?

You may have received an overage check because your annual insurance premium, taxes (or both) were less than originally expected. Take a look at the escrow analysis statement included with the check—it will show you how the overage was calculated.

Federal law requires that we return any surplus over $50 directly to you. However, if you would like to return the overage check to us and have it applied as a principal reduction, we can do that too! Please do so by endorsing the back of the check to TMS and send it to the address below.

The Money Source Inc.
ATTN: Cashiering
500 South Broad St. Ste 100A
Meriden CT, 06450