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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Taxes/escrow
I know we have to have an escrow account because we have an FHA and have to pay PMI for at least 5 years yada yada.
But doesn anyone know if I can take just the taxes out of escrow and pay them? I don't like dealing with this mortgage company paying them...
Thanks
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Posted 2/19/11 5:05 PM  |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Taxes/escrow
I don't know if it matters with FHA or not, but yes, you can with regular mortgages pay your taxes separately. You just have to pay a bulk of money all at once.
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| Posted 2/20/11 10:33 AM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Taxes/escrow
If the bank requires that you escrow with them they will pay them. They do not send the money to you so you can pay it. Some banks will allow you not to escrow for a higher rate or after a certain period of time.
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| Posted 2/20/11 6:54 PM |
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Re: Taxes/escrow
Most, if not all, banks will allow you to cancel escrow. DH did it when he first bought the house. He called up the bank and cancelled the Escrow by writing a letter and then sending a fat check to the Town of Hempstead's Tax Receiver. On my property I decided to keep the Escrov because I can be a real ditz and not have all the cash in my account to pay off the taxes.
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| Posted 2/21/11 2:21 AM |
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