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re: How bad was your escrow account short this year?

Posted on 3/26/25 at 9:02 am to
Posted by BabyTac
Austin, TX
Member since Jun 2008
14252 posts
Posted on 3/26/25 at 9:02 am to
quote:

Usually its required!


Unless you at least put 20% down. If you can’t do that, you can’t afford what you’re buying.
Posted by Billy Blanks
Member since Dec 2021
4737 posts
Posted on 3/26/25 at 5:50 pm to
quote:

I’m willing to play the odds on a tornado and just keep fire insurance.


What state are you in? I'm in Arkansas. Not a chance in hell would I give it up.
Posted by bstew3006
318
Member since Dec 2007
12758 posts
Posted on 3/28/25 at 9:15 am to
quote:

choose not to escrow. I pay my property taxes and insurance annually. A long time ago I got hit with an adjustment like that and said never again. I like knowing that my mortgage payment will never change.


Is this an option? I thought the bank forced escrow. My current mortgage increased last few years bc of escrow. Looking at a new home and would much rather keep that escrow amount and pay annually.
Posted by LemmyLives
Texas
Member since Mar 2019
9953 posts
Posted on 3/28/25 at 12:44 pm to
quote:

Is this an option?

Yes, put 20% down, tell the bank you're declining escrow. If you're married, the wife will see that pot of money you're saving for year end and want to "borrow" from it, though.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
29516 posts
Posted on 3/28/25 at 12:49 pm to
quote:

LemmyLives


I think asking for posters to be banned is some real pussy shite, but god you’re insufferable
Posted by HoustonChick86
Catalina Wine Mixer
Member since Dec 2009
58848 posts
Posted on 3/28/25 at 1:08 pm to
quote:

That is my recommendation to anyone where it is not required by your mortgage company. Keep that money invested, instead of loaning it to a 3rd party.

Required here.

But not bad at all at only $6.04.

Increasing my monthly bill by $1.52 per month next year.
Posted by LemmyLives
Texas
Member since Mar 2019
9953 posts
Posted on 3/28/25 at 1:40 pm to
quote:

insufferable

Thanks Mingo!
I would have actually been insufferable if I'd pointed out to the last poster that the answer was a post or two above, but I didn't.
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