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Escrow vs Student Loans

December 2nd, 2021 at 09:49 pm

My escrow for taxes and insurance was about $200 short. When I make my next payment should I add extra to cover that? Or pay the money on my student loan and wait for my escrow analysis? 

Posted in Debt | 3 Comments »

3 Responses to “Escrow vs Student Loans ”

  1. crazyliblady Says:
    December 3rd, 2021 at 12:30 am 1638491450
    1638491450

    When I get the escrow analysis from the mortgage company, I also get a payment coupon that I can use to mail an escrow payment to them. In my case, if I don't pay it in advance, I will have a higher payment.

  2. Lots of ideas Says:
    December 3rd, 2021 at 02:16 pm 1638540996
    1638540996

    If your escrow includes homeowners insurance, this is a good time to review your policy.
    If you have a low deductible, now that you have a better emergency fund, it might make sense to see what you save if you raise it.
    You also could ask your agent to see if they can find you comparative coverage at a lower rate, or to run some comps yourself.
    Sometimes combing home and auto insurance can save money too.

    Also, now that your net worth is positive, make sure you have adequate liability (sometimes known as ‘umbrella’) insurance. That will increase costs but provides good protection for a small amount.

  3. Amber Says:
    December 4th, 2021 at 02:22 pm 1638627763
    1638627763

    Thanks Lots if Ideas, I’ll definitely look into the insurance. I didn’t even think about it.

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