Comments on: Pros and Cons of Mortgage Escrow Accounts http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/ Money Management, Small Business, Career Wed, 23 May 2012 21:16:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Tu http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-39678 Tu Tue, 29 Nov 2011 04:00:22 +0000 http://cashmoneylife.com/?p=2036#comment-39678 I am currently refinancing my house and have opted to setup a mortgage escrow. Can you opt out of the escrow down the road? Thanks, I am currently refinancing my house and have opted to setup a mortgage escrow.
Can you opt out of the escrow down the road?

Thanks,

]]> By: Daniel http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-33989 Daniel Mon, 08 Aug 2011 19:43:57 +0000 http://cashmoneylife.com/?p=2036#comment-33989 We were First time home buyers. There for we had to get an escrow account. a year after owning our house we received a letter."your paying to much . we lowered you payment!" it was around 75.00 a month less. The next year " oh we messed up you should have been paying more." then it went up about 175.00 more than originally. we struggled with multiple jobs and made those payments. Then the next year came . Another "mess up" as the customer service rep stated. for instance jumped 750.00 to 1,200.00 a month. I LOST MY HOUSE ! How can this be legal They are supposed to know what they are doing. now 2 years past my deed in lieu . After my 4 bedroom 2 bath with 5 family members we are renting a 2 bed 1 bath. Can anyone explain this better for me. Thanks and BE CAREFUL We were First time home buyers. There for we had to get an escrow account. a year after owning our house we received a letter.”your paying to much . we lowered you payment!” it was around 75.00 a month less. The next year ” oh we messed up you should have been paying more.” then it went up about 175.00 more than originally. we struggled with multiple jobs and made those payments. Then the next year came . Another “mess up” as the customer service rep stated. for instance jumped 750.00 to 1,200.00 a month. I LOST MY HOUSE ! How can this be legal They are supposed to know what they are doing. now 2 years past my deed in lieu . After my 4 bedroom 2 bath with 5 family members we are renting a 2 bed 1 bath. Can anyone explain this better for me. Thanks and BE CAREFUL

]]> By: Pat http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-31595 Pat Thu, 07 Apr 2011 17:08:44 +0000 http://cashmoneylife.com/?p=2036#comment-31595 I have an escrow shortage and the lender will not allow me to pay the shortage. They said their system would not allow it. They have increased my monthly payment. Is this legal? I thought you would pay the shortage. I have an escrow shortage and the lender will not allow me to pay the shortage. They said their system would not allow it. They have increased my monthly payment. Is this legal? I thought you would pay the shortage.

]]> By: Tony Joseph http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-21573 Tony Joseph Tue, 02 Feb 2010 16:41:07 +0000 http://cashmoneylife.com/?p=2036#comment-21573 Thank you Ryan...... Thank you Ryan……

]]> By: Ryan http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-21572 Ryan Tue, 02 Feb 2010 16:38:26 +0000 http://cashmoneylife.com/?p=2036#comment-21572 Tony, I don't have an answer for you; I recommend contacting your escrow company for more information. Best of luck! Tony, I don’t have an answer for you; I recommend contacting your escrow company for more information. Best of luck!

]]> By: Tony Joseph http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-21571 Tony Joseph Tue, 02 Feb 2010 16:36:27 +0000 http://cashmoneylife.com/?p=2036#comment-21571 What gonna happen to my postive escrow funds since my loan has been charged off to FACS (unsecured loans)? Am i eligible to receive the postive balance from the escrow. Kindly mail me if anyone has an answer to this issue. :) What gonna happen to my postive escrow funds since my loan has been charged off to FACS (unsecured loans)? Am i eligible to receive the postive balance from the escrow. Kindly mail me if anyone has an answer to this issue. :)

]]> By: EvilV http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-20957 EvilV Mon, 28 Dec 2009 17:35:30 +0000 http://cashmoneylife.com/?p=2036#comment-20957 I hate my escrow account. I've lived in my house 2 years, and they have never once paid anything on time. Fortunately they are the ones at fault for picking up the late fees on my taxes. Although it is a bit disconcerting to have my insurance policy lapsing for a week or two every year. I hate my escrow account. I’ve lived in my house 2 years, and they have never once paid anything on time. Fortunately they are the ones at fault for picking up the late fees on my taxes. Although it is a bit disconcerting to have my insurance policy lapsing for a week or two every year.

]]> By: Evan http://cashmoneylife.com/pros-and-cons-of-mortgage-escrow-accounts/#comment-20902 Evan Tue, 22 Dec 2009 18:53:33 +0000 http://cashmoneylife.com/?p=2036#comment-20902 I was Forced into my Escrow account and I LOVE IT! I live in one of the most expensive places in the Country in terms of property taxes (Long Island, New York) and to not have to worry about coming up with the property taxes because I was forced to budget over 12 months is one less headache I was Forced into my Escrow account and I LOVE IT!

I live in one of the most expensive places in the Country in terms of property taxes (Long Island, New York) and to not have to worry about coming up with the property taxes because I was forced to budget over 12 months is one less headache

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