http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html like a friend telling you about money ... Tue, 16 Mar 2010 23:14:59 -0500 http://wordpress.org/?v=2.8 hourly 1 http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html/comment-page-1#comment-3478 Hasan Wed, 17 Feb 2010 18:38:33 +0000 http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html#comment-3478 Thanks for the suggestion. I have contacted them about this. It seems though that the state law forces the financing company to pay interest to the home owner, even if he does not want to 'earn' the interest. Do you know of a process through which one might ask the government to allow the home owner to not have the escrow in a non-interest-bearing account? Thanks for the suggestion. I have contacted them about this. It seems though that the state law forces the financing company to pay interest to the home owner, even if he does not want to ‘earn’ the interest. Do you know of a process through which one might ask the government to allow the home owner to not have the escrow in a non-interest-bearing account?

]]> http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html/comment-page-1#comment-3477 TFB Wed, 17 Feb 2010 17:34:43 +0000 http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html#comment-3477 Hasan - I'm sorry I don't have an answer for you. You will have to ask the financing company if it requires escrow and how not to receive interest. Hasan – I’m sorry I don’t have an answer for you. You will have to ask the financing company if it requires escrow and how not to receive interest.

]]> http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html/comment-page-1#comment-3450 Hasan Fri, 12 Feb 2010 05:29:00 +0000 http://thefinancebuff.com/2009/07/does-a-mortgage-escrow-account-pay-interest.html#comment-3450 I have a house in Maryland on a increasing-ownership contract with a financing company aimed at not dealing with interest because of religious reasons (in Islam, usury is a major sin). I am concerned about receiving interest on the escrow. Is there a way for me to not receive the interest, either by having the escrow stored in a non interest bearing account or by not having escrow at all? I have a house in Maryland on a increasing-ownership contract with a financing company aimed at not dealing with interest because of religious reasons (in Islam, usury is a major sin). I am concerned about receiving interest on the escrow. Is there a way for me to not receive the interest, either by having the escrow stored in a non interest bearing account or by not having escrow at all?

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