Lenders generally require borrowers to include taxes and insurance premiums in their monthly mortgage payments, which are placed in escrow until the payment date when the amount due is paid by the lender. Mortgages are priced on that assumption.
The alternative is to pay an extra fee and have them waive that requirement. Lenders prefer that the borrower pays property tax and homeowner’s insurance into an impound or escrow account. That way they will make sure the tax and insurance bills are paid. It protects their interest. They also earn some float from the money. Most people if given a choice probably will not use impound or escrow account because it unnecessarily complicates paying the tax and insurance bills. But if you have to pay a fee to get rid of annoyance, you have to decide if the fee is worth it.
PRMG waive that fee, contact me for more info ☝️☝️☝️ .
Come and join us in this beautiful cause and a healthy day with yoga and different outdoor events.
#Repost @marriedtonutrition with @get_repost
THIS SATURDAY 🎀 Join us for a morning of yoga, healthy lifestyle, and curated live music as we come together to make an impact as a community in support of ending breast cancer forever.
Together with @BalanZenGroup we created The Pink Om, an event where all ticket proceeds will be donated to foundations supporting the fight against breast cancer; @susangkomen & @senosayuda
📆 This Saturday October 27th
🕘 9:00am to 12:00pm
📍 Soccer Cage Downtown | 128 NE 17th Street, Miami FL 33132
🎟 $25 Minimum Donation
(USE LINK IN BIO TO GET YOUR TICKET + CONTRIBUTE)
▫️Yoga class starts at 9:30am; BYOM, hat, & towel. We will provide water, hydration, and light bites.
▫️GIVEAWAYS courtesy of our event sponsors! Including a raffle for 2 Hours of Kitesurfing Lessons courtesy of @WindAddictMiami ▫️Live beats curated by @NaimZarzour 🎶 ▫️PARKING IS FREE (On-site and street parking available)
▫️@GoalStation will do an amazing demonstration of their Soccer Training System next to the yoga class. Everyone is welcome to participate! Adult and kid friendly ⚽️
Thank you to our AMAZING event sponsors for their contribution, support, and love towards this cause 💕
If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program. The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. The amount that will be available for withdrawal varies by borrower and depends on:
• Age of the youngest borrower or eligible non-borrowing spouse;
• Current interest rate; and
• Lesser of appraised value or the HECM FHA mortgage limit or the sales price.
If there is more than one borrower and no eligible non-borrowing spouse, the age of the youngest borrower is used to determine the amount you can borrow. .
You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.