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?

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Other/Just L…, , Fleming Fitch Grant, Holly Hill, FL
Mon Jul 28, 2008
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.
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Dallas Texas, Agent, Dallas, TN
Mon Jul 28, 2008
That is standard, the few hundred is used for processing all the required paperwork.
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