Is Mortgage Investors Group legit?
Mortgage Investors Group is accredited with the Better Business Bureau (BBB) and has had only one complaint registered in the past three years.
Who is mortgage investors?
A mortgage investor is the party that purchases mortgages from lenders. In most cases, these investors are actually government entities or government-sponsored enterprises that purchase your home loan so your lender is able to continue selling new home loans.
Why would you pay extra Escrow?
Why should I pay extra? You have to repay your principal and interest, but most lenders will offer or require you to make extra payments into an escrow account to cover costs for your homeowners insurance, property taxes and private mortgage insurance or FHA mortgage insurance premiums.
Why is my mortgage Escrow going up?
As we previously mentioned, if your escrow payment goes up, it's typically due to an increase in insurance costs or taxes. ... Adding an escrow account will increase your mortgage payment, in order to cover your monthly tax and insurance payments.