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    Why do you pay escrow to your mortage company and pay monthly homeowners insurance to your insurance co. each month?

    0  Views: 907 Answers: 2 Posted: 10 years ago

    2 Answers

    You can have your mortgage company purchase homeowners insurance, in fact if you don't carry it yourself many mortgage companies will purchase it and add the cost to your house payment. The problem is usually it's much more expensive if they buy it, compared if you buy insurance yourself.

    My mortgage is with Chase and my escrow pays my taxes and homeowners insurance premiums.


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