I've been using an escrow account for my mortgage payments for about two years now, and honestly, I'm still kinda torn. On one hand, it's nice not having to worry about setting aside money for taxes and insurance myself—it's all automatic, you know? But then again, sometimes it feels like I'm just handing over control of my money to someone else. Plus, those yearly adjustments can be a bit annoying when they catch me off guard. Curious if others feel the same or if it's just me being picky...
"Plus, those yearly adjustments can be a bit annoying when they catch me off guard."
Totally get this. I refinanced last year and decided to stick with escrow mainly for convenience, but those surprise adjustments can feel like a mini heart attack... especially when the payment suddenly jumps up. One thing I've found helpful is setting aside a small buffer in a separate savings account—nothing huge, just enough to soften the blow if the escrow recalculations go higher than expected. Hasn't solved everything, but it definitely eases the stress a bit.
Yeah, those escrow adjustments can definitely catch you off guard. A couple of my clients swear by the buffer method too—smart move. Personally, I just brace myself every year and hope for the best... hasn't failed me yet, but maybe I'm just lucky?
