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re: Buying my first house, insurance questions, need help
Posted on 9/19/17 at 8:35 am to CorkSoaker
Posted on 9/19/17 at 8:35 am to CorkSoaker
quote:
Also, don't escrow. Pay in full. Most take credit cards
Will a bank allow that? You may be able to pay your auto insurance if bundled, but I think most banks force you to escrow (because they want to ensure it is insured).
I could be wrong.....
+1 on MetLife, my insurance broker put me on their plan (home/auto) and it has saved me about $1000 a year.
This post was edited on 9/19/17 at 8:36 am
Posted on 9/19/17 at 12:01 pm to TigerRob20
I have never escrowed my homeowners insurance. Always pay myself, in full, with credit card (to get points).
I have seen and heard of way too many cases of mortgages not paying the insurance. For example, my mother. She escrowed, paid mortgage each month, Katrina happens, surprise she found out she never had insurance. For years. But paid chase mortgage for it for years. And guess where all her documents were? In the house that flooded.
I don't like to rely on anyone else paying my bills for me.
I have seen and heard of way too many cases of mortgages not paying the insurance. For example, my mother. She escrowed, paid mortgage each month, Katrina happens, surprise she found out she never had insurance. For years. But paid chase mortgage for it for years. And guess where all her documents were? In the house that flooded.
I don't like to rely on anyone else paying my bills for me.
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