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i just re-read my loan paperwork...vent
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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i just re-read my loan paperwork...vent
why on earth am i paying 14 months of homeowners insurance and 5 months of property taxes?
on top of that i just had to show proof of 12 months of homeowners insurance!!
i understand the concept of escrow. i understand that the lender wants to protect its investment... BUT 26 MONTHS OF HOMEOWNERS INSURANCE UP FRONT?????!!!!!! AND I STILL HAVE TO MAKE MONTHLY PAYMENTS THAT INCLUDE INSURANCE!!!!!!!!!!!!!!!!!!! 
w t f!!!!
oh, and if i pay my mortgage ahead of time, i DO NOT qualify to get a refund of my closing costs
i need to find a way to become a bank so i can get in on this gravy.
vent over
Message edited 3/20/2007 2:28:36 PM.
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Posted 3/20/07 2:21 PM  |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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Re: i just re-read my loan paperwork...vent
Is it 14 plus 12 or just 14 months? Sometimes they show the 12 months you need to pay up front in the document, along with the amount for escrow, that's the way ours was.
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| Posted 3/20/07 2:25 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: i just re-read my loan paperwork...vent
the way i read it... it says 2, and then lower it says 12.
but they just told us we have to provide a year's worth, which we had to provide a receipt for.
now that i've read your reply, i'm hoping that the receipt we just provided will cancel out the 12 months that are itemized.
but so far, it looks like 14 plus 12
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| Posted 3/20/07 2:27 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: i just re-read my loan paperwork...vent
we had to pay 12 months up front, then we just pay monthly into escrow.
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| Posted 3/20/07 2:46 PM |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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Re: i just re-read my loan paperwork...vent
Posted by libby2595
the way i read it... it says 2, and then lower it says 12.
but they just told us we have to provide a year's worth, which we had to provide a receipt for.
now that i've read your reply, i'm hoping that the receipt we just provided will cancel out the 12 months that are itemized.
but so far, it looks like 14 plus 12
If it's in 2 separate spots, the 12 is for the insurance that you just purchased and need to provide a receipt for (even though it's in with closing costs, it needs to be purchased prior to closing).
The "2" is for the months going into escrow so you should be ok!!!
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| Posted 3/20/07 2:52 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: i just re-read my loan paperwork...vent
Posted by ali120206
If it's in 2 separate spots, the 12 is for the insurance that you just purchased and need to provide a receipt for (even though it's in with closing costs, it needs to be purchased prior to closing).
The "2" is for the months going into escrow so you should be ok!!!
from your keyboard to God's ears...or something like that
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| Posted 3/20/07 3:32 PM |
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