Well folks ’tis the season – keep in mind when it comes to tax season – if you pay your own taxes and insurance and you are in the process of re-financing, beware of the fact that once the tax bills are out, your taxes have to be paid as part of your closing. The same applies with insurance. If the renewal of your insurance is coming due within 60 days of your closing, the renewal must be paid for at closing.
Also, don’t jump the gun and pay them right before closing. If you pay them ahead of time and the payment hasn’t shown as being posted, it will delay your closing and you could lose that locked in rate, which you sure don’t want to do in this crazily erratic interest rate market we’re in.