Does Mortgage Company Pay Homeowners Insurance?

  1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    It may if you have it set up to do so or if they require it.  Many Mortgage Companies and Banks now require that Homeowners Insurance be paid through an escrow account set up with them in your name.  In addition to annual insurance premiums, your monthly installment will include payment for your loan principle, interest and possibly property taxes as well.
    Answered on June 2, 2014
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