Question Details

Home Buyer, Home Buyer in Florida

Making a 20% down payment and will not be doing escrow for property tax. Mortgage company says i have to pay

Asked by Home Buyer, Florida Mon Jul 28, 2008

a one-time fee of couple of hundred dollars not to escrow. Why?

Help the community by answering this question:


New regulations recently enacted by The Fed will require lenders to escrow for taxes and insurance regardless of the home owner's qualifications or wishes.

Get your no-escrow now while you can. Later you will not have a choice.
0 votes Thank Flag Link Mon Jul 28, 2008
That is standard, the few hundred is used for processing all the required paperwork.
Web Reference:
0 votes Thank Flag Link Mon Jul 28, 2008
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