Escrow

Some comments as to what can go wrong with
insurance and tax escrow monies:

http://tinyurl.com/28xyml

If "bad things" can happen in good times, how
will the current turmoil in the mortgage business
affect ?

Also some comments that some sub-prime loans did not
require escrow.

When I refinanced into a 5.5 % fixed (Not "cash out") a
few years ago, I would have had to pay a premimum to avoid
escrow, even through the loan amount was less that 30% of
the then- current value of the property.

Guess I was not "sub-prime"

I am seeing reports that bankrupt/closed/vanished mortgage servicers are not making tax/insurance escrow payments.

The escrow money is apparently gone.

How can one misrepresent what you say when you post a vague and inexplicit accusation without supporting documentation?

Definitions of gone on the Web:

• [SIZE=-1]
• away(p): not present; having left; "he's away right now"; "you must not allow a stranger into the house when your mother is away"; "everyone is gone now"; "the departed guests"
• done for(p): destroyed or killed; "we are gone geese"
• asleep(p): dead; "he is deceased"; "our dear departed friend"
• having all been spent; "the money is all gone"
• bygone: well in the past; former; "bygone days"; "dreams of foregone times"; "sweet memories of gone summers"; "relics of a departed era"
• gone(p): no longer retained; "gone with the wind"
  wordnet.princeton.edu/perl/webwn[/SIZE]

Have a nice day too.

Some comments as to what can go wrong with
insurance and tax escrow monies:

http://tinyurl.com/28xyml

If "bad things" can happen in good times, how
will the current turmoil in the mortgage business
affect ?

Also some comments that some sub-prime loans did not
require escrow.

When I refinanced into a 5.5 % fixed (Not "cash out") a
few years ago, I would have had to pay a premimum to avoid
escrow, even through the loan amount was less that 30% of
the then- current value of the property.

Guess I was not "sub-prime"

What do you mean by 'pay a premium'? A fee? As I stated above, the escrow waiver fee for ltvs of < 80 is typically .0025 x loan amount. Cash out is irrelevent to the escrow waiver.