we have the option of having the taxes built into the mortgage payment and held in escrow or to pay the taxes on our own (no fee). IMO, i would rather 'hold' the money ourselves and reap the interest benefits rather than have the bank/mortgage company benefit.
did anyone else opt for this?
sophie78
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Re: Anyone pay property taxes on own?
Oops! I misread your question. Sorry, I can't answer it!
skew
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Re: Anyone pay property taxes on own?
can you explain?
thanks!
sophie78
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Re: Anyone pay property taxes on own?
See above
skew
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Re: Anyone pay property taxes on own?
i edited for an easier read
Irishbride
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Re: Anyone pay property taxes on own?
We pay our taxes on our own. Twice a year.
StepherG
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Re: Anyone pay property taxes on own?
Yes, we pay our taxes on our own. 2 times per year. I believe the bank will only let you do this if your not paying PMI....
julz33
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Re: Anyone pay property taxes on own?
We pay on our own also.
AmyKay
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Re: Anyone pay property taxes on own?
we pay them on our own. I like to be in control of my money! if you can save the money on your own than do that but if your bad at saving than opt for the escrow
christy
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Re: Anyone pay property taxes on own?
I dont think we pay them on our own, they are included in our mortgage bill.
kim
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Re: Anyone pay property taxes on own?
yes, we pay them on our own.
chmlengr
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Re: Anyone pay property taxes on own?
Wow, so many people pay them on their own. We have ours paid through our mortgage. The money is in escrow.
agrech
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Re: Anyone pay property taxes on own?
Who makes the decision on whether taxes are in escrow or paid on its own?
agrech
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Re: Anyone pay property taxes on own?
And if you pay them on your own, you pay them in 1 lump some right? not monthly
Jenny5150
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Re: Anyone pay property taxes on own?
I believe we pay biannually.
KimberlyBride
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Re: Anyone pay property taxes on own?
Posted by agrech
Who makes the decision on whether taxes are in escrow or paid on its own?
You can opt to pay on your own or keep in escrow and pay in your mortgage payment each month.
skew
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Re: Anyone pay property taxes on own?
although it is minmal, i would rather bank the money and earn interest. why should the mortgage company earn interest on YOUR money? and yes, taxes are paid 2x per year.
KimberlyBride
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Re: Anyone pay property taxes on own?
I agree with skew. Earn interest.
agrech
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Re: Anyone pay property taxes on own?
Great, that made understanding that allot clearer. you girls are awsome
F&J
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Re: Anyone pay property taxes on own?
When we closed last week we asked the same question. We were told that 95% of home buyers pay the property taxes thru the bank, and not on their own. The explanation given was that if you forget to pay your proerty taxes it is a really big deal, and its better to do it thru the bank. I agree that it sounds better to have the money in the bank than in escrow, but for us as new home owners we went with having the bank pay it since we could easily forget one time. So many bills, who can remember them all?
