Jim at Blueprint has an article about mortgage payments never being fixed. Funny that. He sounds like me!
The commenters on the previous article has some good insights about not having an escrow account at all. But I want to put a different question out there for readers.
Do you have an escrow account upon which your mortgage lender pays you interest? I have heard rumors of this, but I want to know if they still exist, and if you don’t mind, with which bank? I fantasize occaisionally about refinancing and if I do, I’d like to get some money for my money!
(Sorry, but quarter end at work has been really crazy (In a good way though!). I don’t expect work to let up for the next month or so. Please stick around and subscribe to my feed. That way a new article will jump up at you when I post.)
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{ 2 comments… read them below or add one }
My mortgage company paid interest on my escrow account. My mortgage was obtained through a local credit union and sold to WAMU. I still choose to close the escrow account and do it myself. I never trusted their true-up math at the end of the year, since I could call three separate CSRs and get three very different versions of why I owe/am due $x.
I get interest on my escrow account as well through ABN AMRO.