- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Escrow question
Posted on 3/3/23 at 3:41 pm to RandySavage
Posted on 3/3/23 at 3:41 pm to RandySavage
quote:In b4 the OT standard:
I have been a homeowner for over 15 years.
“If you pay property taxes, you don’t really own your property.”
0
Posted on 3/3/23 at 3:44 pm to Asharad
quote:
end escrow theft
I don't think you know how escrow works or what it is.
Posted on 3/3/23 at 3:47 pm to RandySavage
quote:
I have only been in this house since May 2021, my payment went up like $50 after the first year then almost $250 this year.
Oh, that's different. I assumed from your OP you were in the same house for 15 years. I have yet to find a mortgage company that doesn't screw up the escrow for the first 2 years
Posted on 3/3/23 at 3:47 pm to deeprig9
quote:
I don't think you know how escrow works or what it is.
conflating escrow and PMI to "own the poors" on the internet
Posted on 3/3/23 at 3:50 pm to RandySavage
quote:
What gives?
I have no clue. However, I see this thread devolving into personal insults etc.
Posted on 3/3/23 at 3:51 pm to Asharad
quote:
you might qualify to end escrow theft.
based. With the sweet interest rates of 3.5% to 4% on savings accounts now, you can self escrow and profit.
ETA: that is what I have always done; I put down 24% on the property when I purchased.
This post was edited on 3/3/23 at 3:54 pm
Posted on 3/3/23 at 3:52 pm to RandySavage
quote:
I have only been in this house since May 2021, my payment went up like $50 after the first year then almost $250 this year.
Essentially the easiest way to explain it is that you underpaid last year, and they want to keep a minimum amount in the account in the event that you underpay again.
Posted on 3/3/23 at 3:53 pm to BabyTac
quote:
Not sure. I’ve always either paid cash for a home or put at least 20% down so I don’t have to escrow.
No you haven’t, you’re one of the trashiest posters on this site
Posted on 3/3/23 at 3:54 pm to RandySavage
quote:The adjustment last year did not adequately account for the increase you had in homeowners and/or taxes so you are covering that this year.
The primary jump was explained that I had a $376 dollar shortage in my account
If I were you and assuming you have spending discipline, I would ask the mortgage holder to take over the tax and insurance myself and eliminate the escrow. Also, make sure that they are not still charging you PMI. You should be well over 20% equity right now.
Posted on 3/3/23 at 3:54 pm to BabyTac
quote:
Not sure. I’ve always either paid cash for a home or put at least 20% down so I don’t have to escrow.
How have you lived in a house for 15 years and not have at least 20% equity? It’s cheaper to take care of your taxes and insurance on your own.
WTAF are you talking about
Posted on 3/3/23 at 3:55 pm to Wabbit7
The dumbass is talking about PMI
Posted on 3/3/23 at 3:57 pm to RandySavage
quote:
Yes, but it only went up $500 which would be barely over $40 a month.
ETA: Homeowner's insurance that is.
The property tax also went up a similar amount.
The primary jump was explained that I had a $376 dollar shortage in my account and that I also must maintain a minimum of $1400 in my escrow account leading to a $1776 shortage which comes out to almost $150 extra a month.
I do not have an ARM btw and do not know of any significant changes in zoning etc...
You can pay the shortage if you don't want your monthly payment to increase.
Posted on 3/3/23 at 3:57 pm to deeprig9
quote:
I don't think you know how escrow works or what it is.
He actually explained it pretty well.
Posted on 3/3/23 at 3:59 pm to PhiTiger1764
20% equity doesn’t equal waving escrow lol
Posted on 3/3/23 at 4:02 pm to BabyTac
quote:
Not sure. I’ve always either paid cash for a home or put at least 20% down so I don’t have to escrow.
How have you lived in a house for 15 years and not have at least 20% equity? It’s cheaper to take care of your taxes and insurance on your own.
You're thinking of Mortgage insurance, you wealthy retard.
Posted on 3/3/23 at 4:02 pm to DCtiger1
All the guy said is you can ask your mortgage company to stop escrowing and pay your taxes and insurance yourself.
This is true. I’ve done it myself.
No longer am I forced by my lender to save thousands of dollars of my own money in an account paying me 0% interest
This is true. I’ve done it myself.
No longer am I forced by my lender to save thousands of dollars of my own money in an account paying me 0% interest
Posted on 3/3/23 at 4:04 pm to DCtiger1
Insurance/taxes went up this year, they will just pay it, so you have a shortage to make up, and they also schedule escrow needed for next year's required escrow funds.
Simple as that. You would have been better off calling your mortgage company and asking them why, given the way people devolved to ridiculous levels.
Simple as that. You would have been better off calling your mortgage company and asking them why, given the way people devolved to ridiculous levels.
Posted on 3/3/23 at 4:04 pm to PhiTiger1764
The threshold for that is not 20% equity… he’s also a poser try hard. See his other topics
Posted on 3/3/23 at 4:07 pm to DCtiger1
We might be talking about different posts..
This post was edited on 3/3/23 at 4:08 pm
Posted on 3/3/23 at 4:09 pm to RandySavage
It took me until the bottom of the second page to realize you said $250/month. Suddenly this is a much more alarming topic. I was trying to figure out how $250/year got a whole page of replies…..I’m an idiot
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News