Posted on: 25th Aug, 2010 08:33 pm
I just purchased a home I put 20% down I initialy wanted a impound account but, I do not now. I set one up and they have collected the taxes for eight months I don't mind having included in my payment until the taxes are paid. But, i would like to close the impound account in April and be responsible for my own taxes Can i do this?
Hi localbee,
welcome to mortgagefit,
You can close the impound account once you have 20 % equity (that you have already put as down payment) in the home.
for further information on the subject topic you can visit this link
http://www.mortgagefit.com/impound-account.html
DIPA
welcome to mortgagefit,
You can close the impound account once you have 20 % equity (that you have already put as down payment) in the home.
for further information on the subject topic you can visit this link
http://www.mortgagefit.com/impound-account.html
DIPA
Hi localbee!
Welcome to forums!
It will be completely the lender's discretion whether or not you would be able to close your impound account. Normally, lenders will want you to have the impound account and they would collect the taxes and insurance payments in that account.
Sussane
Welcome to forums!
It will be completely the lender's discretion whether or not you would be able to close your impound account. Normally, lenders will want you to have the impound account and they would collect the taxes and insurance payments in that account.
Sussane