Well ya, that is here too. To buy a decent size house in a good neighborhood is upwards of 300k.
Pretty much the same here in Portland.
The subprime lending bust
- Thread starter Sarcasmo
- Start date
Pretty much the same here in Portland.
That's the property tax part of it actually. I was wrong before. There are the application fees, escrow (the property tax to the city), and other filing fees.
That's pretty much traditionally how it is done?
Everyone I have asked and all of the banks I have looked at do it this way.
That's because they make money off you escrowing. You can choose to pay the taxes yourself, you just have to be diligent and save for them. Also, when you escrow, they make you pay in advance, where if you pay yourself, you get to keep your money until it is due.That's pretty much traditionally how it is done?
Everyone I have asked and all of the banks I have looked at do it this way.
All they do is get to earn interest on people who want them to schedule monthly payments when you could easily do it yourself into your own savings account.
Most places REQUIRE escrow. You can get out of it if you have at least the amount due in taxes every year in an account that you never touch. The mortgage company is trying to protecting their investment by making sure the taxes are paid on time...
The 'game' you and I always play. See if Noah can close the Ark's door before the flood gets in.
