Comments on: This Year’s Annual Escrow Disclosure Statement http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/ Frugal living and debt reduction tips for a better financial future. This is one family's story. Fri, 27 Jan 2012 20:52:38 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ashleyd http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107540 ashleyd Tue, 09 Jun 2009 13:16:55 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107540 oops! wrong post. please delete. thanks! oops! wrong post. please delete. thanks!

]]> By: ashleyd http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107539 ashleyd Tue, 09 Jun 2009 13:15:30 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107539 this sounds amazing! i'm crossing my fingers this happens to us too! hah! (or at least the lower payment) this sounds amazing! i’m crossing my fingers this happens to us too! hah! (or at least the lower payment)

]]> By: My Escrow Account Made Me Happy, For This Year | I've Paid For This Twice Already... http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107479 My Escrow Account Made Me Happy, For This Year | I've Paid For This Twice Already... Tue, 09 Jun 2009 02:31:23 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-107479 [...] the past two years since we’ve owned our home, we’ve had our monthly payment adjusted upwards twice from its origin due to projected escrow s....  There is a minimum balance required in our escrow account, and if our property taxes or [...] [...] the past two years since we’ve owned our home, we’ve had our monthly payment adjusted upwards twice from its origin due to projected escrow s….  There is a minimum balance required in our escrow account, and if our property taxes or [...]

]]> By: paidtwice http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34809 paidtwice Wed, 02 Jul 2008 21:00:02 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34809 Once the auto loan and the student loans are paid off, and we have a decent emergency fund, the goal is to get our mortgage to 80% or less of the house's value. Now, by the time we actually get to the point we can start doing that, well, hmm, we might already be to 80% lol. Once the auto loan and the student loans are paid off, and we have a decent emergency fund, the goal is to get our mortgage to 80% or less of the house’s value. Now, by the time we actually get to the point we can start doing that, well, hmm, we might already be to 80% lol.

]]> By: That One Caveman http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34762 That One Caveman Wed, 02 Jul 2008 14:52:09 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34762 My credit union also required me to keep at least two month's worth of payments in reserve - nearly $1,000. It was a happy day last May when I was able to cash out that escrow and start managing it myself. In the 5 years I've owned houses, my escrow was revised upwards every year due to my area's tax-happy nature. Now that I am managing it myself, I'm not only making more money on it (3% vs 1%), I also have the option of withholding as much or as little as I like. (I'm actually withholding more as a way of forcing extra savings.) If you can find the means to pay extra toward your mortgage to reach the 80% loan-to-value mark, I think you'd be happy with result: self-managed escrow and no more PMI (basically giving away money to the bank with no benefit to you). My credit union also required me to keep at least two month’s worth of payments in reserve – nearly $1,000. It was a happy day last May when I was able to cash out that escrow and start managing it myself.

In the 5 years I’ve owned houses, my escrow was revised upwards every year due to my area’s tax-happy nature. Now that I am managing it myself, I’m not only making more money on it (3% vs 1%), I also have the option of withholding as much or as little as I like. (I’m actually withholding more as a way of forcing extra savings.)

If you can find the means to pay extra toward your mortgage to reach the 80% loan-to-value mark, I think you’d be happy with result: self-managed escrow and no more PMI (basically giving away money to the bank with no benefit to you).

]]> By: chris http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34751 chris Wed, 02 Jul 2008 13:40:02 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34751 Escrow accounts are for the birds. I dropped ours as soon as I could. Much less complicated to pay your own tax and not have to deal with PMI. Escrow accounts are for the birds. I dropped ours as soon as I could. Much less complicated to pay your own tax and not have to deal with PMI.

]]> By: Gypsie http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34740 Gypsie Wed, 02 Jul 2008 12:06:00 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34740 It's interesting to see how different mortgage companies handle the accounts. We bought our house in Feb 2006. And we have gotten back money from our escrow account twice. Plus, this year our payments dropped almost $100. Still cant drop PMI yet. It’s interesting to see how different mortgage companies handle the accounts. We bought our house in Feb 2006. And we have gotten back money from our escrow account twice. Plus, this year our payments dropped almost $100. Still cant drop PMI yet.

]]> By: Vanguard Mutual Fund http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34723 Vanguard Mutual Fund Wed, 02 Jul 2008 10:43:02 +0000 http://www.paidtwice.com/2008/07/02/this-years-annual-escrow-disclosure-statement/#comment-34723 Congratulations on the $400 snowflakes. It is great when you realize that you are going to be able to pay off your debt faster. Congratulations on the $400 snowflakes. It is great when you realize that you are going to be able to pay off your debt faster.

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