attgig

So, I was looking at my mortgage and my escrow account, and I was wondering, why am I putting into an escrow account? Wouldn't it be better if I kept my money to pay my taxes instead of paying into an escrow account that the bank gets to earn interest off of?

Now I realize that my current escrow was built into the mortgage I have, and so, I don't think I can get out of it, but wouldn't it be better if I put that into my own separate savings account, and paid my city/state when the tax bills came rather than having the bank take care of it?

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