Quote:
Originally Posted by rhood
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
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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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