For those individuals that would prefer not to have the additional responsibility involved with the saving for and the payment of additional bills for their property tax’s and home insurance, the option of including these costs into a monthly mortgage payment is available. The bank or lender will break these expenses down into monthly installments, and disperse them to the proper agencies at the appropriate time. Those individuals, who would rather collect the interest on this money themselves, should consider placing this money into a zero-cost, interest bearing account such as an ING Direct or HSBC Direct high yield checking or savings account. Many options regarding how to structure deposits and withdrawals into and out of these accounts exist including automatic deductions and payments. Please see the websites of the following institutions listed below for greater details on how this these types of accounts are structured.

• ING Direct
• HSBC Direct
• E*TRADE Financial
• Capital One
• WT Direct

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