Thread: buying a house?

Excellent advice. I rented a house once and all week long everything was
so quiet and so serene. Friday night and the parties started, police coming
all hours of the night!

Lori
Debt Free by Jan 1, 2008

we have ours all together. one payment a month instead of 3. no lump sum
payments on taxes or insurance. can't think of any con's. it works for us.

cindy

I currently have my taxes included with the mortgage payment. What this means
is that the extra I pay each month goes into an escrow account, and the bank
pays the taxes when they come due. I earn interest on the amount in the escrow
account.

I like it because it is convenient, and I don't have to worry about budgeting
for the tax bill. I have my mortgage with a local bank and feel confident that
they will pay the taxes. They will not do this for insurance, so I pay that
myself. (it seems like the bank would have a vested interest in being sure the
insurance was paid, so I'm surprised that they won't do this).

For a past house I had both the taxes and insurance included and never had a
problem. But the mortgage company I used "sold" our mortgage to another
company. I guess this is common, and I ended up having 3 different mortgage
companies over the 3 years I owned the house. Although I never had a problem, I
can see that it would be conceivable that paperwork would get lost through all
these changes and something might not get paid on time.

Good luck in finding your new home.
Laura

Hi Mel,

We're in our second house in 21 years and we've always paid our taxes and
insurance on our own. Our taxes are 4400.00 a year (they let us make two
payments) and our insurance is around 700.00 a year (paid annually). I don't
know how
we could afford a house payment if those two were rolled into it - it's
1280.00 bucks now! Our taxes just happen to be due around the same time that
Dave
gets his bonus checks so we really luck out there.

Good Luck to you!
Mickey

We're in our second house in 21 years and we've always paid our taxes and
insurance on our own. Our taxes are 4400.00 a year (they let us make two
payments) and our insurance is around 700.00 a year (paid annually).