Sunday, October 14, 2012

Will impounds save you money? Los Angeles Mortgage broker explains pros and cons

In this short video, Bill Rayman, Los Angeles FHA loans, mortgage rates, and refinance options expert, discusses the benefits and drawbacks of impounds, also known as escrow accounts. 
An impound account is set up to pay your annual property taxes and insurance for you. The account collects 1/12th of the cost of your taxes and insurance each month, so you do not have to worry about paying all at once. Bill explains how it may help you to secure a lower interest rate on your loan. It can be cancelled anytime without penalty.
If you want to be in charge of your own decisions with the help of a mortgage broker who can help you understand the mortgage business and weigh your options, Bill Rayman is a trusted resource in the Los Angeles area. 
Bill will lay out your options for you in common language, and help you find the best solutions for your specific situation, so you can increase your financial security and freedom. Give us a call today and we will help you problem-solve or choose the next steps forward.

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