jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Is anyone here paying a fee to waive escrow?
Helping a family member to refinance and she was offered a no escrow option which cost 1/8% higher rate on her loan. I told her to find another mortgage company. I know many here including myself don’t pay escrow for various reasons. In my case our property taxes and insurance are very high so it would be like an interest free loan to the escrow company. Haven’t paid escrow for over 20 years now and never paid any fee to do so. I know some may find it convenient to have the mortgage company make tax and insurance payments. Some lenders view a non escrow loan as higher risk.
Helping a family member to refinance and she was offered a no escrow option which cost 1/8% higher rate on her loan. I told her to find another mortgage company. I know many here including myself don’t pay escrow for various reasons. In my case our property taxes and insurance are very high so it would be like an interest free loan to the escrow company. Haven’t paid escrow for over 20 years now and never paid any fee to do so. I know some may find it convenient to have the mortgage company make tax and insurance payments. Some lenders view a non escrow loan as higher risk.