Somewhat interesting problem. I received a check yesterday from my bank holding my mortgage, for an escrow surplus. Check for $1400ish. Yay me.
However, I see on their calc, they're estimating my property taxes ~$800 light for the year (I have the first installment tax bill already, they'll pay in a couple weeks).
So to me, real easy, I called them, I have the bill, can you cut me a check for $1400 - $800, I'll shred the $1400 check or send it back? They don't want to do that, they want to sit on the account, actually pay the bill (why? they and I already have the bill, paying it doesn't make a difference) and then make a determination.
The way I see it, I can cash their check, stick the money aside, and then when they come looking for their ~$800, I can just give it to them.
Otherwise, I let them keep my $600, call them in March after the bill is paid, and they return me my $600 at their leisure.
Anything wrong with the way I'm looking at this? Isn't it in my best interest to hang onto the money, vice them doing it? What's the downside I'm missing?