Comments

You must log in or register to comment.

fredmull1973 t1_iyae1z9 wrote

I personally disagree. It’s a big relief to me to not have to worry about insurance and taxes.

5

[deleted] OP t1_iyaef6x wrote

[deleted]

1

RatRaceRunning t1_iyajt1u wrote

My Insurance has more than doubled in the past couple years.

2

Extension-Debate-517 t1_iybiptp wrote

Taxes do not change that often. They are put to vote for mil levies. You are given a chance to appeal your taxes. I think you’re confused on how this works.

1

InappropriateGeek t1_iybdbpk wrote

Happened to me when we built our first house. The escrowed amount was based on the empty lot & they didn't catch it for 2 years. Yup, it more than quadrupled our escrow amount for the next year to catch up.

Second house, we took the estimated taxes, divided by 12, and direct-deposited them into a savings account for taxes. The estimate was actually a little high so we end up with some bonus cash at the end of the year now!

3

NotAnAlreadyTakenID t1_iyah7bl wrote

Paying for the taxes a little each month is easier on your budget AND you can lose your property by not paying your taxes.

2

barstoolpigeons t1_iybfcig wrote

You can pay it off or it gets tacked on. You’re going to pay it one way or the other.

2

keepthetips t1_iyadf96 wrote

Hello and welcome to r/LifeProTips!

Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment.

If you think that this is great advice to improve your life, please upvote. If you think this doesn't help you in any way, please downvote. If you don't care, leave it for the others to decide.

1

Extension-Debate-517 t1_iybigfo wrote

Terrible advice. Homes can be foreclosed on when taxes haven’t been paid. You could get sick and end up in hospital and forget to pay. Additionally, there are laws requiring the mortgage company follow a standardized formula for escrow.

1