Chase mortgage Escrow?

Just bought a house 10/17/2019 

Can I get rid of my escrow account and pay property taxes straight to the town?

3 Answers

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  • 1 month ago

    No, Chase will require escrow, which is why it is set up int he first place.

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  • 1 month ago

    Most likely you agreed to have an escrow account when you took out the loan.

    You will need to review your loan docs to see what you agreed to. 

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  • 1 month ago

    You need to have paid the loan down to 80% of the purchase price or less (assuming a conventional loan - FHA and VA have different rules and you may not be able to get rid of that at all).

    If you have not paid the loan down that much but still feel the house is worth more then you might be able to get rid of the escrow with an appraisal proving you have 20% equity in the home, or more, but you probably have to wait until the loan is at least a year old.

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