Talk of The Villages Florida - View Single Post - Mortgage
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Old 06-13-2012, 10:37 AM
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CaptJohn CaptJohn is offline
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Quote:
Originally Posted by rhood View Post
Anyone with a mortgage who does not have an escrow account who pays their taxes and insurance yearly. I am thinking I could put the escrow amount onto the mortgage principle every month and then just pay the taxes and insurance when they are due, thus paying the mortgage off in just a few years. Any comments? Thanks
In most cases, you have to have an 80% or less LTV (loan to value ratio) for the mortgage company to let you pay taxes and insurance separately on your own.
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