Comments for Ed Conarchy http://edconarchy.biz Your Mortgage ... A Powerful Financial Tool Thu, 15 Dec 2011 14:51:52 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on If You Wait, Then You May Pay the Price by Ed Conarchy http://edconarchy.biz/?p=1089#comment-96 Ed Conarchy Thu, 15 Dec 2011 14:51:52 +0000 http://www.edconarchy.com/?p=1089#comment-96 Thank you Lisa! Glad you found it valuable. We try hard to make money understandable and rational! Thank you Lisa! Glad you found it valuable. We try hard to make money understandable and rational!

]]> Comment on If You Wait, Then You May Pay the Price by Jayne http://edconarchy.biz/?p=1089#comment-95 Jayne Thu, 15 Dec 2011 14:41:51 +0000 http://www.edconarchy.com/?p=1089#comment-95 A really good answer, full of rtaioanlity! A really good answer, full of rtaioanlity!

]]> Comment on Warning: April 15th is coming! by Dernell http://edconarchy.biz/?p=693#comment-74 Dernell Sat, 08 Oct 2011 07:12:02 +0000 http://www.edconarchy.com/?p=693#comment-74 This piece was a lijefacekt that saved me from drowning. This piece was a lijefacekt that saved me from drowning.

]]> Comment on Are You Saving Enough For Retirement? by Ed http://edconarchy.biz/?p=1092#comment-18 Ed Wed, 21 Apr 2010 13:38:24 +0000 http://www.edconarchy.com/?p=1092#comment-18 Thnak you Jonathan! Glad you like the video and message. You are very welcome. It's up to us to educate consumers on how to get to financial security. So keep spreading the word! You know I will! Thnak you Jonathan! Glad you like the video and message. You are very welcome. It’s up to us to educate consumers on how to get to financial security. So keep spreading the word! You know I will!

]]> Comment on Are You Saving Enough For Retirement? by Jonathan Lusk http://edconarchy.biz/?p=1092#comment-17 Jonathan Lusk Wed, 21 Apr 2010 07:15:02 +0000 http://www.edconarchy.com/?p=1092#comment-17 Ed, You are AWESOME !!! Great video and message. Thanks for all that you do and especially for the difference you've made in my life, and in my business practice. Ed, You are AWESOME !!! Great video and message. Thanks for all that you do and especially for the difference you’ve made in my life, and in my business practice.

]]> Comment on Payoff All Your Debt Including Your Mortgage! by Ed http://edconarchy.biz/?p=1078#comment-16 Ed Wed, 24 Feb 2010 04:40:03 +0000 http://www.edconarchy.com/?p=1078#comment-16 Tom, sure thing! You have my permission. Tom, sure thing! You have my permission.

]]> Comment on Payoff All Your Debt Including Your Mortgage! by Tom Brown http://edconarchy.biz/?p=1078#comment-15 Tom Brown Tue, 23 Feb 2010 17:02:54 +0000 http://www.edconarchy.com/?p=1078#comment-15 Really enjoy this video and the information it provides. Do I have your permission to add it to my video blogs via the loan tool box? Thanks! Really enjoy this video and the information it provides. Do I have your permission to add it to my video blogs via the loan tool box?

Thanks!

]]> Comment on Must See Video Before You Have Your Taxes Prepared by Ed http://edconarchy.biz/?p=1050#comment-14 Ed Fri, 12 Feb 2010 16:11:23 +0000 http://www.edconarchy.com/?p=1050#comment-14 Thank you Emil! That means so much to me. I'm working hard to share & educate everyone on what they need to be doing with their money and finances. Glad you are enjoying what I am doing and getting valuable knowledge from it. I hope others would agree with you. Thanks! Thank you Emil! That means so much to me. I’m working hard to share & educate everyone on what they need to be doing with their money and finances. Glad you are enjoying what I am doing and getting valuable knowledge from it. I hope others would agree with you. Thanks!

]]> Comment on Must See Video Before You Have Your Taxes Prepared by Emil B. Towner http://edconarchy.biz/?p=1050#comment-13 Emil B. Towner Fri, 12 Feb 2010 16:04:24 +0000 http://www.edconarchy.com/?p=1050#comment-13 Great post, Ed. Thanks for all the helpful insight and advice. This is a challenging time of year, but your blog helps make it that much easier. Keep up the great work! Great post, Ed. Thanks for all the helpful insight and advice. This is a challenging time of year, but your blog helps make it that much easier. Keep up the great work!

]]> Comment on Vital Info about Mortgage Escrow Accounts by Ed http://edconarchy.biz/?p=990#comment-12 Ed Fri, 08 Jan 2010 15:59:16 +0000 http://www.edconarchy.com/?p=990#comment-12 Hi Marilynn, You are very welcome. It's my pleasure! The fee to close your escrow or as we call it in the industry "waive your escrow" is usually the same for all lenders and is $250 per $100,000 loan amount. So in your case roughly $500. Some lenders will raise the rate to cover that cost as an option. Typically taking your interest rate up .125% to forgo having to charge you the $500. This is typically done when you get your mortgage upfront and needs to be determined before you sign all the mortgage papers at closing. Once the mortgage is closed with an escrow account we have found it hard to get out of the escrow requirement down the road. Knowing you could always refinance to do that though. If you are lucky and the bank does allow to close the requirement of the escrow and you are disciplined to set aside the property taxes and home insurance on your own, I recommend that. If you would not be disciplined enough to do that, keep the escrow. I hope that helps and answers all your questions. Let me know if you have additional ones. Thank you, Ed Hi Marilynn,
You are very welcome. It’s my pleasure!
The fee to close your escrow or as we call it in the industry “waive your escrow” is usually the same for all lenders and is $250 per $100,000 loan amount. So in your case roughly $500. Some lenders will raise the rate to cover that cost as an option. Typically taking your interest rate up .125% to forgo having to charge you the $500.
This is typically done when you get your mortgage upfront and needs to be determined before you sign all the mortgage papers at closing. Once the mortgage is closed with an escrow account we have found it hard to get out of the escrow requirement down the road. Knowing you could always refinance to do that though.
If you are lucky and the bank does allow to close the requirement of the escrow and you are disciplined to set aside the property taxes and home insurance on your own, I recommend that. If you would not be disciplined enough to do that, keep the escrow.
I hope that helps and answers all your questions. Let me know if you have additional ones.
Thank you, Ed

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