Comments on: Earn More Money By Cashing Out Your Mortgage Escrow http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html The journey of one young family out of debt and into building wealth Wed, 17 Feb 2010 16:36:11 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: Accumulating Money http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html/comment-page-1#comment-1238 Accumulating Money Thu, 04 Sep 2008 05:47:12 +0000 http://www.thatonecaveman.com/?p=192#comment-1238 I've heard this concept before, but the amount of work for the reward just doesn't seem worth it to me. Sure "every little bit helps", but in my mind, if you're going to see financial success, you've got to be larger scale. I’ve heard this concept before, but the amount of work for the reward just doesn’t seem worth it to me. Sure “every little bit helps”, but in my mind, if you’re going to see financial success, you’ve got to be larger scale.

]]> By: Michael - Credit Card Message Board http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html/comment-page-1#comment-994 Michael - Credit Card Message Board Wed, 13 Aug 2008 06:26:07 +0000 http://www.thatonecaveman.com/?p=192#comment-994 Thanks. Unfortunately due to my income right I'm not in the market to buy a house now (but I would love to at these prices!) but this is nice to know. I had priced out a mortgage in 2006 and the tax/insurance part did add a significant amount to the bottom line. I can't even imagine how much it adds in places like where my mom lives - Ann Arbor, Michigan. She has a 160k house (purchase a little over a year ago) and that taxes on it are over 11k per year... complete insanity, no wonder home ownership is not affordable for many. Thanks. Unfortunately due to my income right I’m not in the market to buy a house now (but I would love to at these prices!) but this is nice to know. I had priced out a mortgage in 2006 and the tax/insurance part did add a significant amount to the bottom line. I can’t even imagine how much it adds in places like where my mom lives – Ann Arbor, Michigan. She has a 160k house (purchase a little over a year ago) and that taxes on it are over 11k per year… complete insanity, no wonder home ownership is not affordable for many.

]]> By: That One Caveman http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html/comment-page-1#comment-993 That One Caveman Wed, 13 Aug 2008 02:38:33 +0000 http://www.thatonecaveman.com/?p=192#comment-993 Michael, It really depends on the bank. I believe each bank is free to set its own rules. My credit union requires 80% loan-to-value maximum before they would release the escrow, your experience may differ. Michael,

It really depends on the bank. I believe each bank is free to set its own rules. My credit union requires 80% loan-to-value maximum before they would release the escrow, your experience may differ.

]]> By: Michael - Credit Card Message Board http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html/comment-page-1#comment-991 Michael - Credit Card Message Board Tue, 12 Aug 2008 21:45:04 +0000 http://www.thatonecaveman.com/?p=192#comment-991 I stumbled across this blog while researching for an article for my site and first I want to say I really love your "Financial Health" graphics on the right side... they give a great visual instead of just some numbers! I knew banks would take control of your tax and insurance obligations via escrow but I didn't know exactly how that worked. Very interesting idea and you mentioned the threshold was 80%... I suppose if you bought a house with 20% down you would never have to have them manage it then? I stumbled across this blog while researching for an article for my site and first I want to say I really love your “Financial Health” graphics on the right side… they give a great visual instead of just some numbers! I knew banks would take control of your tax and insurance obligations via escrow but I didn’t know exactly how that worked. Very interesting idea and you mentioned the threshold was 80%… I suppose if you bought a house with 20% down you would never have to have them manage it then?

]]> By: The Happy Rock http://www.thatonecaveman.com/2008/05/earn-more-money-by-cashing-out-your-mortgage-escrow.html/comment-page-1#comment-307 The Happy Rock Wed, 28 May 2008 22:00:29 +0000 http://www.thatonecaveman.com/?p=192#comment-307 When I refinanced through ING they didn't do escrow, and I have loved it since! Our payment is quarterly, but it is still great to have full control. The extra couple bucks in interest is nice too. When I refinanced through ING they didn’t do escrow, and I have loved it since! Our payment is quarterly, but it is still great to have full control. The extra couple bucks in interest is nice too.

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