How do YOU answer the credit card question?

Avatar for cmpat
iVillage Member
Registered: 02-21-2003
How do YOU answer the credit card question?
1432
Fri, 11-05-2010 - 3:30pm

Why can’t you just use your credit card?



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iVillage Member
Registered: 10-22-2009
Thu, 11-11-2010 - 8:00am

Then if this is true accept that escrowing her money was a better deal, no one is saying it is better for you.

Like anything there are advantages and disadvantages for not escrowing or escrowing.

iVillage Member
Registered: 05-13-2009
Thu, 11-11-2010 - 8:05am

6%? Where? Our MMA account is hovering around 1%. If I didn't have online banking, I'd prefer the mortgage company pay my tax and insurance bills.

I get to buy one extra latte a year on all that interest accrued, though.

iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 8:09am
I know. I picked 6% out of a hat, but you're right. Our savings account gets around 1% as well.
Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 9:10am
The theory? Yes. The actual financial impact? No. I would lose a measurable amount of interest if I had a large tax return. I don't lose much, if any, interest by my lender holding my escrow. And, due to the terms of the mortgage, I actually GAIN fianancially by them doing so.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 9:11am
Excuse me? How can you say that? I saw the numbers of what mortgage rates and terms were offered. I chose the best one ... which happened to include escrow as a term. And you think you can judge that as a joke? When you didn't even see the numbers? What. Evah.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 9:12am
That's now how it worked. Nice try though.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 10:00am

lol!!

Yeah, I divide the total tax bill and insurance bill by 52 weeks, and put that money away each week. Not too difficult. shrug.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 10:02am

:)

We put about 37% down on our home so we didn't need PMI or any special deals.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 10:03am

lol!!

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 10:05am

It depends on how much your taxes and insurance is. Mine is over $7,000/year.

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