Comments on: Impound Accounts: Budgeting for Property Taxes http://queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/ We're here, We're queer, and We're not going Shopping without Coupons Thu, 18 Mar 2010 03:42:20 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: Brian Brady http://queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/comment-page-1/#comment-30981 Brian Brady Mon, 09 Apr 2007 17:11:39 +0000 http://www.queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/#comment-30981 Let's see the "cost' versus the benefit of an impound account. On a $500,000, the average impund account balance would be about $2,000 over the course of the year. Is the $60 in lost annual interest worth the convenience of knowing your taxes and insurance are paid?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-30981">0</span> <small>(to vote for this comment, please visit the site)</small></p> Let’s see the “cost’ versus the benefit of an impound account. On a $500,000, the average impund account balance would be about $2,000 over the course of the year.

Is the $60 in lost annual interest worth the convenience of knowing your taxes and insurance are paid?

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Carnival of Real Estate #37: Fore!! at The Phoenix Real Estate Guy http://queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/comment-page-1/#comment-30888 Carnival of Real Estate #37: Fore!! at The Phoenix Real Estate Guy Mon, 09 Apr 2007 09:05:38 +0000 http://www.queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/#comment-30888 [...] Nina at Queercents sticks a seven iron within 2 feet of the pin with her view on impound/escrow accounts. While this may not be earth shattering insight to the real estate professional, it does offer good explaination and sage advice for the real estate consumer.  [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-30888">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] Nina at Queercents sticks a seven iron within 2 feet of the pin with her view on impound/escrow accounts. While this may not be earth shattering insight to the real estate professional, it does offer good explaination and sage advice for the real estate consumer.  [...]

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Gary http://queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/comment-page-1/#comment-28968 Gary Tue, 03 Apr 2007 20:22:57 +0000 http://www.queercents.com/2007/04/02/impound-accounts-budgeting-for-property-taxes/#comment-28968 I'm with Nina. Impound accounts don't do me any favors, since I don't need a forced savings plan. It's a drag hoping/wondering/worrying whether the mortgage company paid the bill. Same is true for homeowners insurance. And if you change insurance company, you have to notify the mortgage company and hope they send the payment to the right place. But Mark perfers the forced saving plan that impounds provide. And since we both wanted the tiny interest rate benefit, we chose the impound account.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-28968">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m with Nina. Impound accounts don’t do me any favors, since I don’t need a forced savings plan. It’s a drag hoping/wondering/worrying whether the mortgage company paid the bill. Same is true for homeowners insurance. And if you change insurance company, you have to notify the mortgage company and hope they send the payment to the right place.

But Mark perfers the forced saving plan that impounds provide. And since we both wanted the tiny interest rate benefit, we chose the impound account.

Current score: 0 (to vote for this comment, please visit the site)

]]>