[legion]

I pay my mortgage between the 1st and the 15th (when it become past due). Why would I give my money to the bank early?

Because this is my first house, I also had to do escrow. Every year, the bank underestimates my property taxes (by $100-$300). Every year I'm sent a letter telling me that I can pay the difference immediately, or I can have the deficit spread over my 12 payments for next year interest-free. (Illinois State Law: if the bank underestimates escrow expenses, they have to provide an interest-free loan on the difference. If they overestimate, they have to refund with interest.)