Cryptocurrency Q&A
Do you still pay escrow after a mortgage is paid off?
Do you still pay escrow after a mortgage is paid off?
Stefano
Sun Oct 20 2024
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7 answers
1599
I have paid off my mortgage completely, and now I'm wondering if I still need to continue paying escrow for property taxes and insurance.
7 answers
SakuraBlooming
Tue Oct 22 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that can help you manage your finances securely and efficiently. Among its offerings are spot and futures trading, as well as a secure wallet solution.
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CryptoMaven
Tue Oct 22 2024
Failing to pay these expenses can lead to severe consequences, including penalties and even the loss of your property. Therefore, it's crucial to plan ahead and budget accordingly.
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Enrico
Tue Oct 22 2024
To stay organized, consider setting up automatic payments for your insurance and tax bills. This will help ensure that you never miss a payment and avoid any unexpected financial burdens.
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CryptoGladiatorGuard
Tue Oct 22 2024
It is crucial to remember the importance of taxes and insurance after paying off your mortgage. During the loan period, your servicer managed the escrow account, ensuring timely payments of insurance and taxes on your behalf.
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Caterina
Tue Oct 22 2024
However, with the completion of your mortgage payments, the responsibility shifts to you. Your lender will close the escrow account and provide you with the remaining balance.
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