A short payment is a payment made that is less than the monthly amount due. Typically, homeowners are short because their payment doesn’t account for recent increases in their escrow or interest.
At the moment, ServiceMac will temporarily waive your short payments if they are short by $50.00 or less. If you have an escrow account, we'll automatically waive the short payment—the shortage will be calculated into your escrow balance. If you don't have an escrow account, we won't automatically waive the short payment but will reach out to you instead.
We'll provide 3 waivers over a 12-month period. After the third waiver, the short payment will go to your unapplied balance until you pay enough to cover a full month's payment.