Escrow Shortage: Pay all at once or throughout the year?
January 30, 2013 12:04 PM Subscribe
It's January, which means my mortgage servicer (Wells Fargo) has once again determined my escrow account is short by about $300. This seems legit since there was a recent property tax increase.
Outside of personal preference, is it better for me to pay this all at once, or to spread it out over the year? Is it better for Wells Fargo if I do one or the other?
Context: It's probably my tinfoil lined hat, but whenever a bank gives me a choice like this I assume one of the choices will screw me out of a little money, put me in a position to be screwed out of a little money, or put them in a position to make a little more money off of me.
posted by alan to Work & Money (6 answers total) 3 users marked this as a favorite