[Debbie H]

I am refinancing my mortgage. I haven't done escrow in the past but they want to charge me $500 if I don't escrow. Because of it being the end of the year, I will have to come up with the $5k winter taxes that I would have paid in February plus another $2500 that would be due in July right up front. That is $7500 I would have to pay in property taxes right up front. Is it worth doing to save the $500? Or since you are paying the taxes ahead of time for the next 10 years on the mortgage, will I eventually make this $500 back in interest?

[LossMitigation]

It is just easier to pay in your monthly payment. The bank holds the money then pays when it is due. Do not have to come up with lump sum all at once