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Pros and Cons of Mortgage Escrow Accounts – Part II

Continued from last week.

Downfalls of mortgage escrow accounts

There are several downfalls to escrow accounts. Basically, you are paying someone to do something you could do yourself (make payments on a schedule). Other downfalls occur when escrow accounts don’t work properly, when there is an overage or shortage, and due to missed opportunity cost. Read the rest of this entry