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Rider · 03-17-2010, 02:22 PM

I didn't have an escrow account set up on my current home loan for the first 3 years I lived in the house. Since it was a brand new home I knew form previous experience that the taxes were going to fluctuate for the first few years so I paid it out of my own pocket twice a year. I've been burned before on that with the house payment going up $400/month to make up for the shortage in the escrow account. Now that the taxes have leveled off I now pay taxes via an escrow account but I still pay insurance out of pocket each year.

03-17-2010, 02:22 PM	#5
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	I didn't have an escrow account set up on my current home loan for the first 3 years I lived in the house. Since it was a brand new home I knew form previous experience that the taxes were going to fluctuate for the first few years so I paid it out of my own pocket twice a year. I've been burned before on that with the house payment going up $400/month to make up for the shortage in the escrow account. Now that the taxes have leveled off I now pay taxes via an escrow account but I still pay insurance out of pocket each year.