In this episode of Houston Inside Out we discuss the importance of escrowing your taxes and your insurance.

Quotes:

"Overall I recommend people to pay the taxes and insurance monthly in the form of an escrow account.''

Show Notes:

[00:03] Introduction to Houston Home Talk.

[00:37] The importance of escrowing your taxes and your insurance. He discusses that some people like to pay their taxes on their own and some use an escrow account to pay their taxes.

[02:14] A deeper in discussing the benefits of having to pay taxes and insurance using an escrow account.

[03:10] Explanation that there is less risk on the lender in a conventional loan if you decide to pay your taxes and insurance on escrow.

[04:16] Explanation that lenders are all about risk. He discusses further the advantages of having an escrow account and the advantage of paying taxes and insurance on escrow.

[05:19] What FHA loans are, what are the requirements and the variation between mortgage insurance and property insurance.

[07:37] What a lender wants and do not want. He emphasizes to talk to a reputable lender so they can assist us with answering questions as it relates to waiving escrows, what the extra costs may be, and if there's a way for you to waive escrows without incurring any additional fees and the need to discuss it also with the lender. He also highly recommends paying tax and insurance monthly in the form of an escrow account. He also invites us to visit his website houstonhometalk.com for any concerns and questions about escrow.

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