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Icon Mini Profile howabouti99





Joined: 27 Mar 2011

Posts: 1

1.26 Dollars($)
Post Posted: Sun Mar 27, 2011 5:23 pm    Post subject: p&I
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Can you pay your P and I and pay your taxs and ins later without being penalize, or foreclose on, I am told that the P and I is there money and the taxs and ins is your money which is true ,?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10460
Location: Nevada
987.57 Dollars($)
Post Posted: Sun Mar 27, 2011 8:03 pm    Post subject:
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Hi howabouti,

If you don't have an escrow account, then you can simply pay the principal and the interest to the mortgage lender. It won't lead to a foreclosure. However, if you have an escrow account, then you will be liable for paying the taxes and insurance along with your principal and interest payments.

Thanks
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