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Home Mortgage Insurance Companies

Eugene Said:

Do mortgage companies force you to put your home insurance and property taxes on escrow?

We Answered:

It depends on your equity in the home. Generally if your mortgage balance is greater than 80% of the appraised value of the home the lender will require escrows. So, if you are buying and you pay less than 20% down on the price of the home the lender will require escrow.

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