Posted on: 03rd Jan, 2011 08:18 am
my mortgage company sent me a letter in regards to the streamline refinance and after further research i decided not to take advantage of it. some of the paper work states i would be saying 104.41 a month and other states 64.00, which i found out that if i took advantage of the streamline refinace, the mip would increase and if i didn't take advantage it would not increase. also, wanted to know if there are any new laws that states the condo/townhouse interior insurance has to be escrowed?
Hi rjernigan!
Welcome to forums!
Most of the lenders will want you to go for the escrow account in order to pay for your insurance premiums and your property taxes. This is not only in case of condos and townhouses but in case of other residential properties.
Sussane
Welcome to forums!
Most of the lenders will want you to go for the escrow account in order to pay for your insurance premiums and your property taxes. This is not only in case of condos and townhouses but in case of other residential properties.
Sussane
To date, I have seen no requirement that the condo interior insurance (HO6 policy) be escrowed.
I suppose any lender could require it on their own policy, but, have not yet run into that either.
I suppose any lender could require it on their own policy, but, have not yet run into that either.
