If you are disciplined, try to avoid getting an escrow account. They are wonderful moneymakers for the lenders, but of no real benefit to you -- you don't collect interest on them, it is common for the lender to under-estimate the amounts due on insurance, taxes, bonds and, thus, you end up having to cough some more money at year's end or the lender over-estimates and you get a check back with little to no interest. So, if you can take the amount due that would be in the escrow account and put deposit it on a monthly basis, you'll actually come out ahead. However, you do have to be disciplined and not touch these funds for any reason (the last thing you want to do is lose your house because you can't pay the bond or the taxes).
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Army/embassy brat - traveled too much to mention
Moved here from SF Bay Area (East Bay)
"There are only two ways to live your life: One is as though nothing is a miracle; the other is as though everything is a miracle." Albert Einstein
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