getting a loan without a house

That is the question. I just received word that I was approved for an 80/20 for up to $189.900. I am a first time home buyer, and now need to make a decision to escrow or not. In speaking with a co-worker, I learned that lenders frequently sell mortgages, and in her experience, there was a problem with transferring the escrow account. They were making the usual payments, and one day the Tax Collector calls them up to inform them taxes had not been paid, and a lien will be placed on the home if not paid. Is this an isolated incident, or something that tends to happen frequently? Other then having to only make 1 monthly payment for all costs, what are the advantages of escrow? As long as your disciplined enough, wouldn't making tax payments yourself make more sense?
I'ld settle for something similar with a lifetime subscription to EQ CWG thrown in for good measure
You are probably WAY past SOL for any legal collection.And likely past the 7 years for your credit report as well, which is why it is not on there.
(Getting a loan without a house) "Probably the most common problems consumers have - and this is a problem that, of its nature, will never go away, no matter how much good will and expertise collectors have - is the misidentification of someone as a consumer because of identical or very similar names, use of nicknames, name changes, etc.
The part that I DON'T like is that under the revised law, if the CA hasn't put the account on your credit report then they don't have to investigate or reply to you....
If anyone would like the full report with the graph please email me at don@aimloans.com.