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December 06, 2021, 12:33:25 pm
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Author Topic: Waiving Escrow for Taxes and Insurance  (Read 5357 times)

Offline dsconja

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Waiving Escrow for Taxes and Insurance
« on: July 20, 2003, 08:27:04 pm »
Are there any other ways of having lenders waive escrow for taxes and hazard insurance other than having minimum of 80 LTV or some sort of long-term business relationship? Does it vary from lender-to-lender?

I was just curious from a cashflow standpoint, especially for an owner-occupied property.

Thanks,
Bennie

Offline Admin

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yes, usually...
« Reply #1 on: July 20, 2003, 08:44:49 pm »
Bennie,
Thanks for joining us.  Depending on which programs your lender has access to, I've seen 90% with escrow waivers.  My recollection is the waiver fee was $300 to $400.

I used to do that on many loans, but no longer do so.  I got tired of keeping everything separate, floating the differences, etc.  From a financial standpoint, it makes sense.  From (my) practical standpoint, it no longer does.
There's Only Two Things in Life: Reasons and Results.  Reasons don't count.  - Anonymous

Offline dsconja

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Waiving escrow
« Reply #2 on: July 21, 2003, 06:32:09 pm »
I kind of figured it would depend upon lender and program. Thanks for the reply and sharing your experience.

Bennie

 




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