Go Back   Rage3D » Rage3D Discussion Area » Community and Site Discussions » Off Topic Lounge
Rage3D Subscribe Register FAQ Members List Calendar Mark Forums Read

Off Topic Lounge Discuss anything you want here folks. A place for computer junkies to boldly post Off Topic... Rant and rave if it is necessary, but just try to keep it clean!

View Poll Results: Do you impound tax and/or insurance?
Yes 4 36.36%
No 5 45.45%
Other (explain) 2 18.18%
Voters: 11. You may not vote on this poll

Reply
 
Thread Tools Display Modes
Old May 12, 2012, 11:54 PM   #1
Advertisement (Guests Only)

Login or Register to remove this ad
Lupine
Ole Biscuit Barrel
 
Join Date: Sep 2002
Location: United States Spokane, WA
Posts: 31,312
Lupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English Channel


Subscriber
Default Home "owners": do you impound your taxes and/or insurance?

Why or why not?

Prefer only homeowners vote in the poll but, if others can't resist a poll dance, go ahead and vote what you would choose to do and state why.
__________________
'Why' is a crooked letter, and can't be made straight.
Lupine is offline   Reply With Quote
Old May 13, 2012, 12:04 AM   #2
Lupine
Ole Biscuit Barrel
 
Join Date: Sep 2002
Location: United States Spokane, WA
Posts: 31,312
Lupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English Channel


Subscriber
Default

I ask because I've done both. I've always impounded both tax and insurance payments on prior mortgages (2), choosing to maintain an escrow account from which the mortgage company pays these bills. On the refi we just completed, I've elected to pay these bills out of pocket so won't be paying into an escrow account. Why? Because at the end of the day I'm still responsible for the payments. If the mortgage company, for whatever reason, is late on a payment - they'll gladly pay the fees ... out of the escrow account. Case in point - my statement shows that the mortgage company was late on the tax payment, so my escrow account absorbed a 10% late fee on the payment. Noice.

I'm very good at budgeting, so I'd rather have the responsibility myself, if I'm paying the cost one way or the other. Plus might as well have the monies sitting in our accounts accruing interest instead of the bank cashing in on it.
__________________
'Why' is a crooked letter, and can't be made straight.
Lupine is offline   Reply With Quote
Old May 13, 2012, 12:25 AM   #3
jsmc
Radeon HD 6770
 
Join Date: Mar 2003
Location: Tacoma, WA
Posts: 99
jsmc is still being judged by the masses


Default

When I bought my place the bank required a escrow account and they royally screwed it up, miss a tax payment tried overcharging for my insurance and just generally sucked. After refinance made a deal with the servicing company that I would maintain my own escrow account. pay my insurance a year at a time and put away enough every month for the taxes into an account separate from my regular checking and savings that is only used for taxes that way there can be no mistakes and no chance of somebody(my wife) spending the money.

Just made my first tax payment and they went up by $200.00 but my place went down in value by $3000.00 PC needs to stop this silly estimating and go back to physically valuing property.

Last edited by jsmc : May 13, 2012 at 12:35 AM.
jsmc is offline   Reply With Quote
Advertisement (Guests Only)
Login or Register to remove this ad
Old May 13, 2012, 01:44 AM   #4
OzzieBloke
& OzzieDogs
 
Join Date: Aug 2002
Location: Australia Western Australia.
Posts: 19,003
OzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin DieselOzzieBloke exchanges holiday cards with Vin Diesel


Default

No. But I put a 50% deposit on my house and have a 10 year mortgage that will be paid off in 4 years. No need for it.
__________________
Quote:
She actually wound up pooping this morning and my girlfriend said it looked normal. I shall keep an eye on her. - ice
OzzieBloke is offline   Reply With Quote
Old May 13, 2012, 08:34 AM   #5
swingline
disengage the simulator
 
Join Date: Nov 2002
Location: United States Home
Posts: 21,810
swingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Dieselswingline exchanges holiday cards with Vin Diesel


Subscriber
Default

My taxes are paid through escrow and haven't had a problem in the 4+ years we've had the loan.

Your escrow getting hit with a late fee is complete BS and you should have been on the horn with someone getting it straightened out.

The only benefit I see to paying it myself would be having that money earning interest. I have enough bills to pay on-line/mail each month so having another on top of that doesn't appeal to me for what seems like little gain.
__________________
The man who in times of popular excitement boldly and unflinchingly resists hot-tempered clamor for an unnecessary war, and thus exposes himself to the opprobrious imputation of a lack of patriotism or of courage, to the end of saving his country from a great calamity, is, as to "loving and faithfully serving his country," at least as good a patriot as the hero of the most daring feat of arms, and a far better one than those who, with an ostentatious pretense of superior patriotism, cry for war before it is needed, especially if then they let others do the fighting. - Carl Schurz

RIP Jesse
swingline is offline   Reply With Quote
Old May 13, 2012, 08:52 AM   #6
Greasy
Rage3D Spammer
 
Join Date: Mar 2004
Location: United States NC
Posts: 11,002
Greasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling freshGreasy kills 99.99% of germs and leaves hands feeling fresh


Subscriber
Default

We did escrow taxes/insurance on our old house, but chose not to on the one we're building.

I would rather keep that money on hand, and not have to worry about the bank screwing up.
Greasy is offline   Reply With Quote
Old May 13, 2012, 09:21 AM   #7
Bires
SPOOOOOOOOON!
 
Join Date: Jan 2001
Location: United States Mohave Wasteland
Posts: 5,148
Bires once held a door open for a complete strangerBires once held a door open for a complete strangerBires once held a door open for a complete strangerBires once held a door open for a complete stranger


Default

No. Any impounding is giving the mortgage company an interest free loan.

I just stay prepared with a cash pile in savings.
__________________
You're looking at my signature.
Your signature may be different.
It's common to have computer specs here.
My computer? I've put its specs in the box to the left.
There are many people on the Rage3D forums.
They're very proud of their computers.
Bires is offline   Reply With Quote
Old May 13, 2012, 10:29 AM   #8
Lupine
Ole Biscuit Barrel
 
Join Date: Sep 2002
Location: United States Spokane, WA
Posts: 31,312
Lupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English Channel


Subscriber
Default

Quote:
Originally Posted by swingline View Post
Your escrow getting hit with a late fee is complete BS and you should have been on the horn with someone getting it straightened out.
Property taxes were due at the end of April, and the online statement shows the proper amount - which is what I check. The "1st half 2012 + penalty" bit is on the refinance settlement paperwork from the title company; I'll find out Monday why they entered it in that way - more likely the funds are still in Escrow since again the mortgage company's online records show the appropriate deduction, and this is simply a recording issue. Bottom line though, I'd prefer to have the responsibility. If it were a late payment, the homeowner is ultimately responsible, horn or not.
__________________
'Why' is a crooked letter, and can't be made straight.
Lupine is offline   Reply With Quote
Old May 13, 2012, 10:54 AM   #9
Shadowless
U Mad Bro?
 
Join Date: Apr 2003
Location: United States Long Island, NY
Posts: 23,843
Shadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badgesShadowless doesn't need no stinkin' badges


Default

When me and my ex had our house we had an escrow account. Just makes it easier.
__________________
Desktop - Fractal Design Define R4 | ASRock Z77 Extreme4 | Intel Core i5 3570K | Antec Kuhler 620 | 2x8GB Crucial Ballistix Sport 1600 | 128GB Samsung 830 | 1TB Samsung Spinpoint | 16x Lite-On DVD-R/RW | 2xRadeon HD 6870 | Asus Xonar DGX | Corsair CX750 | Acer H276HL | Windows 8.1 Pro
HTPC - MSI ATX Case | MSI Z68A-G45 | Intel Core i5 2400 | 2x2GB Crucial Ballistix Sport 1333 | 120GB Dell SSD | 16x Samsung DVD-R/RW | Radeon HD 6670 | CoolMax 400w Power Supply | Sharp AQUOS 40" LCD | Windows 8.1 Pro
Server - Dell PowerEdge 2900 III | 2xIntel Xeon E5405 | 12x2GB DDR2-667 ECC | PERC 6/i RAID Controller | 2x73GB 15K SAS | 3x146GB 10K SAS | 3x1TB 7.2K SAS | 16x DVD-ROM | 2x930W PSUs | Windows Server 2012 Datacenter
Shadowless is offline   Reply With Quote
Old May 13, 2012, 11:28 AM   #10
Meteor_of_War
Rage3D Spammer
 
Join Date: Feb 2004
Location: United States Boston, MA
Posts: 15,412
Meteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling fresh


Subscriber
Default

On both my properties I have the mortgage company handling the tax and insurance payments through an escrow. I have enough bills to keep track of as it is, and in 5 years there's never been an issue with a late payment. Honestly, I wish I could have utility bills handled by someone else too.
Meteor_of_War is offline   Reply With Quote
Old May 13, 2012, 12:13 PM   #11
Meteor_of_War
Rage3D Spammer
 
Join Date: Feb 2004
Location: United States Boston, MA
Posts: 15,412
Meteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling fresh


Subscriber
Default

Quote:
Originally Posted by oct13 View Post
I've always paid cash for cars and homes and avoided the added cost and hassle of financing.
Must be nice.
Meteor_of_War is offline   Reply With Quote
Old May 13, 2012, 02:51 PM   #12
Lupine
Ole Biscuit Barrel
 
Join Date: Sep 2002
Location: United States Spokane, WA
Posts: 31,312
Lupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English ChannelLupine once jumped the English Channel


Subscriber
Default

Quote:
Originally Posted by oct13 View Post
No, actually it wasn't. Instead of of stundent loans, I paid my way working two or more jobs while attending school part time. Instead of blowing money on beer and parties, I lived on beans and water and even slept in my car for a year. Instead of flashy sports cars or SUVs, I drove the cheap clunkers nobody else wanted to drive. And instead of financing a home as soon as I got a good job, I continued live frugally and was able to pay cash for one just a few years later.
Growing up I was often embarrassed about the cars my parents drove and envied the vacations and luxuries my friends' families seemingly could afford. Looking back though, I'm thankful for the lessons my parents taught me about living well within my means and understand the choices they made. It wasn't that they couldn't have chosen a luxurious and debt-ridden lifestyle, its that they chose to give us a much greater gift by providing an example of living well. Shame I didn't follow that example until much later in my life.
__________________
'Why' is a crooked letter, and can't be made straight.
Lupine is offline   Reply With Quote
Old May 13, 2012, 02:57 PM   #13
koralis
Radeon 5850
 
Join Date: Oct 2008
Posts: 2,137
koralis once held a door open for a complete strangerkoralis once held a door open for a complete strangerkoralis once held a door open for a complete strangerkoralis once held a door open for a complete stranger


Default

Many mortgagers require one or both, because they don't trust you to make the payments.

Previous mortgager had both. New one only does taxes.
__________________
A hobbiest foundry and forge in progress, plans, suppliers, showcasing ideas

Kcrucible - Playing with Fire
koralis is offline   Reply With Quote
Old May 13, 2012, 03:00 PM   #14
koralis
Radeon 5850
 
Join Date: Oct 2008
Posts: 2,137
koralis once held a door open for a complete strangerkoralis once held a door open for a complete strangerkoralis once held a door open for a complete strangerkoralis once held a door open for a complete stranger


Default

Quote:
Originally Posted by Lupine View Post
Case in point - my statement shows that the mortgage company was late on the tax payment, so my escrow account absorbed a 10% late fee on the payment. Noice.
Go to your state's attorney general. If THEY are the ones paying it, they have the fiduciary duty to you to pay it on time. If they don't pay it on time, they should be sucking up the cost.
__________________
A hobbiest foundry and forge in progress, plans, suppliers, showcasing ideas

Kcrucible - Playing with Fire
koralis is offline   Reply With Quote
Old May 13, 2012, 03:34 PM   #15
Meteor_of_War
Rage3D Spammer
 
Join Date: Feb 2004
Location: United States Boston, MA
Posts: 15,412
Meteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling freshMeteor_of_War kills 99.99% of germs and leaves hands feeling fresh


Subscriber
Default

Quote:
Originally Posted by oct13 View Post
No, actually it wasn't. Instead of of stundent loans, I paid my way working two or more jobs while attending school part time. Instead of blowing money on beer and parties, I lived on beans and water and even slept in my car for a year. Instead of flashy sports cars or SUVs, I drove the cheap clunkers nobody else wanted to drive. And instead of financing a home as soon as I got a good job, I continued live frugally and was able to pay cash for one just a few years later.
Well good for you then.

If you managed to save up enough to afford to purchase a house in cash by just living frugle that's amazing. You must have had a decent income though, or got a steal of a deal.
Meteor_of_War is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Were you PS3 owners looking forward to "The Getaway" or "Eight Days"...? klutzon Console Gaming 13 Jun 5, 2008 10:59 AM
ATI Radeon "no fault" Insurance...here, now! WaltC AMD Radeon Discussion and Support 10 Jan 16, 2003 09:32 AM


All times are GMT -5. The time now is 01:07 AM.



Powered by vBulletin® Version 3.6.5
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
All trademarks used are properties of their respective owners. Copyright ©1998-2011 Rage3D.com
Links monetized by VigLink