2007-07-19 02:51:44 · 9 answers · asked by elinq 2 in Business & Finance ➔ Renting & Real Estate
Make sure you do check with them and double check it. My mortgage co. told me they will pay my taxes at the end of the year and send me an invoice for the amount, over and above, what I had in escrow. Instead, they didn't pay my taxes and sent me the escrow check after the first of the year. I called them again, wondering why they sent me the check and told them, if they can't get it right, I will handle my own escrow and tax payments. They confirmed they would pay my taxes, but again, didn't. My taxes were then delinquent and I was charged interest. I back charged the mortgage co. for the interest and had to fight, tooth and nail, but they did reimburse me. It was their personnel's mistake after all.
So yes, make sure you varify they will pay the taxes and get it in writing.
2007-07-19 02:58:56 · answer #1 · answered by Staveros 4 · 0⤊ 0⤋
Are they amassing the entire quantities had to pay the taxes and coverage, or only a token quantity (for contingency)? they are protecting themselves by ability of amassing the T&I. only via fact which you paid the T&I final quarter, would not assure you will next quarter. 2 issues: a million. Any money that continues to be unpaid interior the escrow account would be paid back to you in finished whilst the non-public loan is paid off, so the money isn't "lost". each 3 hundred and sixty 5 days, or 2, the corporate would desire to audit the escrow account, and refund any overage to the envisioned T&I. in the event that they don't, request a reimbursement. they are going to probably want to maintain an escrow stability of a minimum of a million/2 of envisioned annual T&I. 2. you may request that the escrow account be an pastime-bearing account, that way you will not only be putting your cash "in a shoebox". /
2016-10-22 01:15:39 · answer #2 · answered by teters 4 · 0⤊ 0⤋
check with your mortgage company, escrow could include just taxes, just insurance or both. better to be safe than sorry. Most likely, if you have an escrow account your taxes are being paid.
2007-07-19 02:54:45 · answer #3 · answered by clemenza222 3 · 0⤊ 0⤋
Please check with your mortgage company. If you have an escrow account it should be used to pay your taxes and maybe your insurance. Never assume that it does pay for the taxes, if you call to verify tell them you need to see it in writing or by e-mail so you can have documentation. Good luck.
2007-07-19 02:56:20 · answer #4 · answered by amysgetaways 3 · 2⤊ 0⤋
Yes they are, but it's probably a good idea to check with your tax bill issuing agency (city, borough, township, etc). This is especially true if your mortgage company has recently sold your mortgage or just changed hands.
2007-07-19 03:06:01 · answer #5 · answered by vv 6 · 0⤊ 0⤋
usually, yes. your taxes, insurance, and actual loan payment are all included in your monthly payment - from which some is deposited into your escrow and paid out of that. You normally shouldnt have to pay that separately. That's how it is for me.
2007-07-19 02:54:13 · answer #6 · answered by just_a_hick 4 · 0⤊ 0⤋
They should be. That is the way mine works, I know. But I always check on them to keep them honest.
2007-07-19 02:54:00 · answer #7 · answered by CNJRTOM 5 · 1⤊ 0⤋
You have to sign up for them to automatically pay your taxes, if you have signed up then they will pay them.
2007-07-19 02:54:16 · answer #8 · answered by paganmom 6 · 0⤊ 0⤋
They are supposed to and should but if they don't you have to pay the penalties.
2007-07-19 02:54:08 · answer #9 · answered by shipwreck 7 · 0⤊ 0⤋