Posted on: 27th Mar, 2011 05:23 pm
Can you pay your P and I and pay your taxs and ins later without being penalize, or foreclose on, I am told that the P and I is there money and the taxs and ins is your money which is true ,?
Hi howabouti,
If you don't have an escrow account, then you can simply pay the principal and the interest to the mortgage lender. It won't lead to a foreclosure. However, if you have an escrow account, then you will be liable for paying the taxes and insurance along with your principal and interest payments.
Thanks
If you don't have an escrow account, then you can simply pay the principal and the interest to the mortgage lender. It won't lead to a foreclosure. However, if you have an escrow account, then you will be liable for paying the taxes and insurance along with your principal and interest payments.
Thanks