Escrow Content Index - Page 1

An escrow account is where you can put money to ensure that your real estate taxes get paid on time. Escrow accounts may be managed by either a mortgage company or the homeowner himself. Putting money in escrow means to set money aside in this account for real estate taxes. Learn the pros and cons of who should manage an escrow account.

**Refinance Fees: How Much Is Too Much?** When you're refinancing your mortgage, how much should you be paying in refinance fees? It can be hard to tell what fees you're paying to the lender, what is prepaid interest, and what are the other costs of the loan. Refinance fees, especially for prepaid interest, can add up to the closing costs of refinancing your loan. Have your lender explain exactly what all the refinance fees are going toward before you make any decision about refinancing or canceling your refinance.

**HUD Revised Streamline Refinance Transactions** Streamline mortgage refinance applications will be undergoing some changes. Under the HUD revised streamline refinance, there are changes to the mortgage seasoning, payment history requirements, and verification of assets, employment and income. For a streamline refinance without an appraisal there will be a new maximum mortgage amount, and under the HUD revisions, there is is maximum combined loan-to-value amount for the streamline refinance. Read the full letter below for more details on the changes to HUD streamline refinance applications.

Taylor Bean & Whitaker Customers Still Waiting for Answers. Think Glink has reported for weeks now that former Taylor Bean & Whitaker customers would get answers after the Oct. 31 deadline, by which new loan servicers were to have sorted out who would take what Taylor Bean & Whitaker loans. While there has been some progress made, Taylor Bean & Whitaker customers are still waiting for many answers.

**Short Sale And A Full Price Offer** If you receive a full price offer for the sale of your home, can the lender still consider the sale a short sale? What if the full price offer covers all expenses and covers the entire amount owed to the lender, would the sale still be a short sale? This reader questions why a lender might under all circumstances consider a full price offer as a short sale no matter what.

**Why Buy Title Insurance On a House When You Pay Cash For the Home** If you are making the largest investment of your life, wouldn't you want to make sure you are protected by obtaining and buying title insurance? When you buy title insurance on a house, a title company gives you certain guarantees that you are the rightful owner of the home and certain other title protections. Title insurance does not protect you against future title problems that might develop nor does it protect you from fire or other casualties. But if you are paying cash to a seller are you certain the seller will give you good title to the home?

Taylor Bean & Whitaker Update: October 7, 2009 -- For Taylor Bean & Whitaker customers who have been having trouble with their escrow payments and a program called Equity Accelerator we have an update on how to handle your payments with Taylor Bean & Whitaker. Below we have tips from the Georgia Department of Banking and Finance on how to cancel Equity Accelerator and handle your escrow payments with Taylor Bean & Whitaker.

Taylor Bean and Whitaker Update -- September 25, 2009: With all the confusion happening with Taylor Bean and Whitaker, there are more situations arising where people can't find the information they need. More answers should come after the October 31 deadline set by bankruptcy court, but for now, ThinkGlink wanted to know, "Where are the Mortgage Records and Closing Documents Kept?" Please continue to leave comments and join in the Taylor Bean and Whitaker discussion. We will do our best to help find the answers to your questions.

Taylor Bean Whitaker Update: The latest news finds the failed mortgage company at a hearing at bankruptcy court. According to a representative from the Georgia Department of Banking and Finance, Taylor Bean Whitaker has been given a deadline of October 31 to address who will service which accounts.

Saving to buy a home? How much should you save? What will your housing expenses be? When deciding to buy a home or a house, you need to answer these questions to have a better idea and know how much you will be able to afford. You might be saving money monthly now to buy a home in the future. And, now is the right time to plan for those initial costs to buy a home and then have savings for housing expenses that will come later.

Taylor Bean & Whitaker update: About five weeks after being shut down, the fallout continues for some Taylor Bean & Whitaker borrowers whose loans were ported over to Bank of America. Our Blog is filled with comments from Taylor Bean & Whitaker borrowers who say they have received calls from Bank of America's Collections Department. This interview with Bank of America Rick Simon goes over some of the biggest concerns of Taylor Bean & Whitaker borrowers. We will continue to update on the missing homeowners' insurance payments.