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Escrow insurance and taxes, also specials
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IADAVE
Posted 7/20/2025 08:48 (#11303509 - in reply to #11303496)
Subject: RE: Escrow insurance and taxes, also specials


The lender pays the insurance and taxes and bills the homeowner. The money is put into escrow and then used to pay the insurance and taxes. IF the insurance or taxes go up, they have to raise the monthly payment so the money is there.
They know from experience that a lot of folks will let the insurance and taxes go unpaid. I have been surprised the people that don't know about those costs. Even the ones that do, have trouble with a big bill that comes around every 6 months.
Imagine being a lender and finding out the county took your collateral.
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