Quote:
Originally Posted by Clark_Kent
Quote:
Originally Posted by rebekahb
Since we're talking about re-fi's, how many people escrow their homeowners, flood, and property taxes vs paying them out of pocket. Ours were escrowed initially, but the current mortgage lady suggested I just pay them each year.
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I've always used an escrow account for property taxes and homeowner's insurance. Two less bill to worry about paying. Did your banker offer a benefit to not using an escrow account?
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No, she didn't offer a benefit. I typically pay over $600 extra each month towards principal. She said that we make good money so why tie it up each month. Theoretically, I could transfer that money each month into a side account. Was just curious since we were on the subject. Between the 3 insurances I think it's about 7k/year or a little less.