How can one roll taxes over onto a new property; and avoid a prepayment penalty on a 1st & 2nd loan?

Answer 1

Is this a 2-part question? It looks like it. No, taxes stay with the property they are assessed on.

Prepayment penalties on loans are and will be enforced. The only way to avoid them, of course, is to wait until after the date issued. Financially, not usually a good move to have to pay these, they can go from 1%-3% of the unpaid balance.

Answer 2

agree with the Boston guy..but would love that recipe for meatballs and apples..
i have done the apple and oranges..with whipped cream and it is called "ambrosia salad"

but that meatballs and apples sounds heavenly...

oh and a ps..the only way on the loan is if there is a tranfer clause and it will included fees..almost as much as prepayment in some..contracts.. read that fine print..it is there..get a magnifying glass if need be.
the taxes would have to be written up and may not go through if the lending institution does not agree to it.. some lenders like to collect a monthly withdrawal for taxes so the lenders know the taxes will be paid..and then not end up in foreclosure over taxes..not all but some.

Answer 3

Property taxes have NOTHING to do with pre-payment penalties. You're talking apples and meatballs here; it doesn't even qualify as apples and oranges.

If you pay off a mortgage during the penalty period, you will have to pay the pre-payment penalty. There's no way out of that.

Property taxes exist as a lien against the property. When you sell, taxes for the year of the sale will be apportioned between the buyer and seller as a line item on the closing statement.

Answer 4

I think thats impossible,,,,,,,, unless your 65 or older... the prepayment is forced as long as they have your live signature