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my question is are there a part in the contract they sign between the attorney office and them that said this will be taken care of this year (contract is long and confusing) and another thing is on the bill, where it has the owner it saids owner as of january 1 and has somebody else name there, but it is my parents house.

2007-10-05 03:34:36 · 3 answers · asked by jesuisjean13 2 in Business & Finance Taxes United States

3 answers

If you look on page two of the settlement sheet, the standard HUD form there is a section where taxes and insurance escrow charged to your parents at settlement is filled in. If there are numbers in that section contact the mortgage company to make sure they are paying the bill.
If there are no numbers in that section your parents will have to pay the bill.

2007-10-05 05:05:32 · answer #1 · answered by waggy_33 6 · 0 0

Where do you live? Your question is hard to read. Your parents need to go back to the bank or where they obtained their mortgage and ask them what's going on.

Sometimes borrowers can select to have the taxes included in the monthly mortgage or pay them themselves depending on how much equity is there.

And sometimes the tax bill is sent to the new owner by mistake because they don't know where to send it.

There should be a "Settlement Statement" that broke down all of the costs. The seller was responsible for the taxes up to a certain date and your parents, the buyers are responsible for the taxs from the date of settlement.
Have your parents consult the person they were working with on their mortgage loan and also contact the attorney who did the closing.

2007-10-05 10:42:30 · answer #2 · answered by Anonymous · 0 0

If they have a mortgate with an escrow account for taxes, they should contact the lender - the money might be there to pay it, in which case they'd forward the bill to the lender and they'd actually pay the bill - part of closing costs was probably a deposit for part of the taxes. Most mortgages offer or require this.

2007-10-05 10:39:58 · answer #3 · answered by Judy 7 · 0 0

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