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Escrow for property tax is (usually) _optional_ on a mortgage. I don't have escrow on mine because I heard horror stories from coworkers about payments getting
by brobinson 5y ago
Escrow for property tax is (usually) _optional_ on a mortgage. I don't have escrow on mine because I heard horror stories from coworkers about payments getting screwed up when the mortgage was resold.
- OldHand2018 5y agoFrom the lender point of view, property tax escrow is slightly less risky than leaving it up to the borrower. If you work with a mortgage broker and get quotes, ask for the rates with and without escrow. It’s pretty common that there is a slight reduction in rate if you include escrow.