Maybe
you changed your mind after closing on your mortgage and would rather
not have your taxes and insurance included in your payment.
Most lenders will allow you to cancel your escrow
account, but there are several that won't. If you're unsure, ask your
loan officer.
Some lenders require you have a loan to value
ratio (LTV) of no greater than 80% in order to waive your escrow
requirement. This can be achieved through a combination of paying down
your principal, and property appreciation. You will typically need a
new appraisal to confirm the current value if you are using the
property's current value rather than the original purchase price for
your calculations.
Supreme
Lending 9304
Forest Lane Suite 222 Dallas, TX 75243
Phone: 214-233-0758 Fax:
214-206-8433 E-mail: admin@dallasgetaloan.com
