Short Answer
Removing escrow means you pay your property taxes and homeowners insurance directly instead of having them included in your monthly mortgage payment.
What It Means
If escrow is removed:
- Your monthly mortgage payment may decrease
- You must pay property taxes and insurance yourself
- You are responsible for paying those bills on time
Not all loans allow escrow removal.
For full eligibility requirements and request steps, see Can I Remove My Escrow Account? or contact us for assistance.
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