Are escrow accounts generally required or optional?I have a mortgage with no escrow account. I was asked if I wanted one prior to closing and chose not to use one. Most of my other mortgages have had escrow accounts. Based on past experience I generally prefer to not have an escrow account and pay the insurance and property tax myself rather than trust an unreliable mortgage servicer not to accumulate penalties with the county for late payments. Is there a general industry wide position with regards to the need for an excrow account or is it lender specific?January 02 2009 - Washington00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.