Last night, I went back to my previous insurance company that I switched three years ago to another. Auto insurance saved me $20 per month dropping me to$42 per month for liability only. My home insurance dropped roughly $700 per year plus property tax drop should favor heavily towards me on my next escrow analysis.
To clarify my tax amount due, I went to the county accessors website for this coming payment.
As you know, escrow analysis is adding the tax owed plus insurance owed then divide the total amount then might a cushion. Used to work in escrow for a mortgage servicing company that handles the analysis of loans.
With the good news of what I learned, I contacted my mortgage escrow department to review my numbers of the lower property taxes and the lower homeowners insurance premium. The escrow department representative told me that I should pay one half biweekly of my mortgage payment to pay down my loan quicker. He was stunned that I had information to tell him instead of the normal vice versa.
With that being stated, I encourage you to spend time reviewing your insurance policy on your homeowners. Then, check your future tax assessment of your property. In addition, credit unions offer lower interest rates on most loans and higher rates on savings. Some have open memberships to join.
Wishing you a healthy financial future!
Leslie Elizabeth David.
The Magnificent Modern Mature Woman 