Get Rid of Your Escrow Account like Becky from FamilyandFinances.com
One of the most popular posts on Prime Time Money has been my post entitled, “Earn an Extra Few Hundred This Year by Saving for and Paying Your Own Property Taxes.” I hope to make some extra cash this year by using this method.
Motivated by my post, Becky from FamilyandFinances.com contacted her mortgage company and got rid of her escrow account. Here’s an excerpt from Becky’s post:
“I was a little skeptical about my mortgage company, Wells Fargo, being willing to give up what was for them an easy money-maker. Nonetheless, I sent them an email asking about removing our escrow account. They sent a message back saying that we could do it if we qualified…”
Becky will actually be getting more money back than they actually owe on their taxes because the mortgage company was keeping a $500 reserve. She’s using the money to meet some of her financial goals. Way to go Becky. Thanks for sharing your story.
