#escrow

[notfinancialadvice]

Good morning to something I have know for years and am dealing with but is still annoying.

"Escrow" is essentially a buffer account.

Let's say you have a mortgage or loan for a house or condo or a section of production shop floor in a small factory.

You pay insurance and property taxes annually. The penalty for not paying these is severe penalties in the short term between "you didn't pay yet" and "okay, you have now paid."

The penalty for not paying at all is catastrophic -- best case scenario, a freeze is held on the ownership, worse case... your building burns to the ground and you don't have insurance so you're just... no longer a building owner.

"Escrow" is a clever financial solution.

Let's say your property taxes and insurance, total, is $1200/year, which can be divided into $100/month.

Let's say your mortgage payment is $900/month.

Convenient for math purposes, this is now an easy-to-calculate $1,000/month total.

So every month you write a check for $1,000 and the bank says "Great. We'll take $900 and apply this to your mortgage, and shove $100 into a special account. When the property tax bill is due, we will pay it via this account. When the insurance is due, we will pay it from this account. You don't have to worry about either."

And you say:

"Wow that's damn convenient. Because you are taking care of it and you're a bank and thus are regulated ten billion ways, I don't ever have to worry about this. Being late costs a fair chunk of cash and opens up the possibility of life-ruining catastrophe."

And banks say say:

"We won't even charge you for this service. It's totally free! It's part of us handling your mortgage."

And you say:

"What a weird way to put that? Because if I have a high-yield FDIC insured savings account that I touch twice a year, you would give me {as of this writing} an average of 4%. So. You would be paying me."

And banks say say:

"That is correct but this is different because this is a service we offer. This is a free service."

And you say:

"This doesn't feel like a free service... it feels like... you're holding my money, like you normally do with a savings account, but with that... you pay me... and with this... I... get nothing? You offer savings accounts, paying customers, because this gives you the capital to lend money, which makes you a lot of profit. Like. A lot. Of profit."

And banks say say:

"That is correct also you cannot touch this money. Besides, how much is 4% anyway? We're only holding a rolling $1,000 in this example from Not Financial Advice Tumblr, clearly indicating this is not financial advice."

And Not Financial Advice Tumblr says:

"Okay, well, a 4% daily compound interest rate held for 30 years would be $1000 base + $2,319.90 ($3,319.90 total) in generated interest. I would profit 232%. That's an over simplification because you are taking payments out 2x annually, but even so that is--"

Calculator used on this post: investor.gov

And banks say say:

"But we do this automatically for you. We don't even charge you for making 2-3 payments a year from your money automatically, for your insurance, and your property tax, which may be processed annually or bi-annually. That is up to 3 checks! That aren't even hand written they are electronically drafted!"

And Not Financial Advice Tumblr Author says:

"Sure, but if we use the adjusted-for-inflation return of a 30-year stock market average portfolio from 1992-2021, we get an even higher 7.3%? Which on a rolling $1,000 base would be a profit of $7,933.26 ($8,933.26 total), so a nearly 700% profit?! COULD YOU AT LEAST GIVE ME SOMETHING? LIKE -- SOMETHING?!?!"

Source: Motley Fool

And banks say say:

"You can write a blog article on a social media platform about it once. And -- again -- we don't mean to rub this in, but we're not charging you for this service."

And Not Financial Advice Tumblr Author says:

"Thanks. This is another lesson on how financial literacy helps understand why and how the world works, and is further evidence that institutions are going to make money in all situations, no matter what. That's... something... I guess. Because the more we understand how money works, the better choices we can make in our daily lives to build and protect, and voting booth decisions to shape and protect."

#escrow #money #how money works #aging tumblr population

[echoprojectstruggletweets]

Escrow

(pen on paper)

#art #escrow

[kj-nanray]

What's the purchasing power of $679,000 in NW Las Vegas? 🤩 | Realty One Group | Lic# S.0189616.

#kjnanray #kjnanrayrealtor #kjsellsvegas #lasvegasrealtor #realtor #lasvegasdesi #housingmarketexpert #escrow #lasvegas #lasvegashousingmarket #realestateagent #desi #desirealtor #desiamerican #northwestvegasrealtor #punjabi #helpfulagent #forsale #houseforsale #vivalasvegas #housingmarketupdate

[chasemobilenotary]

My job is so fun, especially at the beginning of fur baby season. Ended up in Gig Harbor to see this little guy. He was all wiggle and couldn't sit still long enough to not have a fuzzy wiggle. Definitely some of my more favorite notary assignments is seeing all the extra family members.

#boxer puppy #boxer dog #petfriendly #notary near me #notary public #notary services #mobile notary #signingagent #home for sale #realestate #deed #escrow #title and escrow #traveling notary #quitclaim #housedeed

[bruschi]

Chi ha in mano i soldi vince, sempre!

Chi ha in mano i soldi vince, sempre!

La legge dell’Articolo Quinto non perdona, mai! Avete venduto o svolto un servizio, emessa la fattura pensata di godere l’attesa di essere pagati per il buon lavoro svolto? Avete fatto il bonifico per quella cosa ben descritta e presentata ma forse restà un sogno?Chi ha i vostri soldi o la vostra merce, due volte su tre o non pagherà proprio o consegnerà qualcosa che ne è lontamente un idea.…

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#azienda #bidoni #creditori #crisi #debitori #dispute #escrow #garanzia #pagare #resolution #rivoluzione #sicuro #taskupper #tutela #vendite

[bithubi]

Airdrop Hunters Attention: This Solana DEX Will Distribute Millions of Tokens!

Solana-based DEX Zeta Markets is preparing to launch the Z token and distribute 100 million tokens. Zeta founder Tristan Frizza said that the token launch and airdrop is expected to take place next month. Solana-based Zeta Markets will release tokens: There is also an airdrop! Zeta Markets, a Solana-based decentralized exchange for crypto always trading, is preparing to launch and issue its…

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#Duration #Escrow #Solana #Token #Zeta

[lakeareatitle]

Hire an Experienced Escrow Service Expert Today!

Looking for reliable escrow services in Lake Charles, Louisiana? Look no further! Our experienced team offers seamless and secure escrow solutions for your real estate transactions. Trust Lake Area Title to handle your funds with utmost care and professionalism. Simplify your transaction process with us!

#escrow services #escrow officer #escrow #real estate attorney #real estate transactions

[kriptoradar]

Ripple Etkisi: XRP'nin Son Hareketlerinin Ardındaki Sırların Çözülmesi

Ripple Etkisi

Bu makalede, Binance'den yapılan büyük bir XRP çekilmesinin kripto topluluğunda yarattığı spekülasyonlar, XRP'nin fiyatı üzerindeki olası etkileri, en büyük XRP sahiplerinin sırları ve Ripple'ın escrowed XRP'sini yakma konusundaki tartışmalar ele alındı. Ayrıca, XRP'nin piyasa performansı, en büyük sahiplerin dinamikleri ve Ripple'ın escrowed XRP'sini kullanma veya yakma kararı alması gibi konular işlendi. Athey ve Mitchnick XRP değerleme modelinin öngörülerine de değinilen makale, kripto topluluğunun XRP'nin geleceği üzerine düşünce ve beklentilerini şekillendirmeye devam ettiğini vurguluyor. Read the full article

#ArthurBrito #AtheyveMitchnickmodeli #AtheyveMitchnickXRPdeğerlememodeli #binance #Binanceçekilmesi #Bitbank #Bitcoin #Blockchain #çeyreklikperformans #ChrisLarsen #Coincheck #dalgaetkisi #dalgalar #değerleme #dijitalvarlık #dördüncüçeyrek #enbüyükXRPsahipleri #escrow #Ethereum #finansalanaliz #fiyatanalizi #fiyathareketleri #gelecekprojeksiyonları #GelecekTahminleri #kraken #kriptoanalizi #kriptoborsaları #KriptoPara #kriptopiyasası #kriptotopluluğu

[paradisehomepros]

#mortgage tips #escrow #home buyers #home sellers

[housingconcierge]

Essential Tips for Homebuyers and Sellers: Navigating Home Insurance

Don't wait until the last minute - prioritize home insurance early in the process for a smooth transaction! 💼🗓️ #HomeInsurance #HomeBuyingTips #RealEstate

Buying or selling a home can be a thrilling experience, but amidst the excitement, it’s crucial not to overlook the significance of securing a homeowners insurance policy, especially with the new changes. Whether you’re a buyer looking for your dream home or a seller hoping to close a deal smoothly, understanding the ins and outs of home insurance is vital. For prospective homebuyers, taking a…

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#DIY #Dream Home #escrow #Home Buying Tips #real estate transaction #RealEstate

[chasemobilenotary]

Have you ever had a difficult time finding a notary public for your documents? Look no more!!! Making it easier than ever to connect to the best notary public. Just scan this v-card and save me to your phone. You will be able to connect with me right away when you need a notary.

In most cases, I can complete your notarization online. I'm still happy to come to you if you reside in Washington. I look forward to hearing from you soon and helping you with any notary needs you may have.

#mobile notary #notary public #notary services #notary near me #traveling notary #mobile notary service #signingagent #notary #escrow #realestate #online notarization #onlinenotary #remote online notary #remotenotary

[northwestescrow]

Happy Friday everyone! As the week comes to a close, we wanted to remind our followers that at Northwest Escrow, we’re committed to providing top-notch escrow services to ensure a smooth and secure transaction for all parties involved. Whether you’re buying, selling, or refinancing your home, our team of experienced professionals is here to guide you through the process and answer any questions you may have. We take pride in our reputation for excellent customer service and attention to detail. So if you’re in need of escrow services, don’t hesitate to give us a call or visit our website to learn more. Have a great weekend!! #northwestescrow #barlowescrow #escrow #friday #happyfriday #escrowcompany #washingtonstate #realestate #buyers #sellers #homeownership #refinance #knowledge #commitment #customerservice (at Northwest Escrow, LLC) https://www.instagram.com/p/CqLjEacvD4W/?igshid=NGJjMDIxMWI=

#northwestescrow #barlowescrow #escrow #friday #happyfriday #escrowcompany #washingtonstate #realestate #buyers #sellers #homeownership #refinance #knowledge #commitment #customerservice

[lakeareatitle]

Make Reliable and Secure Payouts with Escrow Services!

Secure your transactions with the best escrow services in Lake Charles, Louisiana. Lake Area Title has trusted team ensures a smooth, transparent, and protected transaction process for buyers and sellers alike. With a commitment to integrity and professionalism, we provide peace of mind and a seamless experience. Choose our escrow services for your financial security.

#escrow services #escrow #escrow officer #real estate #real estate transactions

[jorgemerlos]

TONIGHT!!! JOIN US📍@etiwandaroadhouse Charity Supported @opcomcares 🇺🇸 🫶🏻🍀🫶🏻🍀🫶🏻🍀🫶🏻🍀 #stpatricksday #southpawbill #ranchocucamonga #networking #werep #realtors #loanofficer #escrow #escrowofficer #loanofficers #realestateagent #charity #supportourtroops (at Rancho Cucamonga, California) https://www.instagram.com/p/Cp3ZbT9yLPK/?igshid=NGJjMDIxMWI=

#stpatricksday #southpawbill #ranchocucamonga #networking #werep #realtors #loanofficer #escrow #escrowofficer #loanofficers #realestateagent #charity #supportourtroops