Our property taxes are included in our mortgage payment that we pay each month. I got a bill in the mail from the county assessor for the taxes we need to pay. Should I have received this bill? I don't know if I should ignore it or if I need to contact someone (company who sold us the mortgage, company that bought the mortgage, county assessor)? It is due at the first of the year so I don't know if there is even enough time for it to get handled before it is due.
Yes, you should have received it. You are the owner and ultimately responsible for it.
The bill *should* be paid out of escrow. Being that it is your first time doing this, I would call the bank and make sure they received a copy (they typically do). Then ask when they are expecting to pay it.
At our previous house the tax bills came in the beginning of October and were paid by the first of December, due January 1. This house our tax bills come in August and they get paid out of escrow in mid-December even though it's the same lender.
Ditto everything uncharch said. Not sure how much of your mortgage information is on-line, but I can go to my mortgage company (Wells Fargo), and access escrow details which shows the information they have on file regarding what tax payments are due and when. Honestly, we got our mortgage in August and I have spent an extensive amount of time straightening this out. Our house is at the corner of 3 counties, we owe school taxes in one county, city taxes, and also property taxes in the county where our house is actually located. Our original lendor paid the county with the school taxes, and after the loan was sold, the other county and city were due. WF was very confused since on our mortgage paperwork it was all lumped together as one sum. It has been a process to get everything corrected. I would definately follow-up and not assume they have it correct.
Yes and the same may happen with your insurance. It always drives me nuts because the escrow company waits until the due date to pay it where I would have paid it immediately to avoid any chance of being late.
You getting the tax bill also is a chance to see how much it's changed and contest it if appropriate.
Somewhere on that "bill" it most likely says NOT to pay it if the money is taken out by your mortgage company and escrowed for you. Mine says it in tiny print.
Post by Norticprincess on Nov 26, 2012 10:37:49 GMT -5
If your current mortgage holder has a website, check to see if they have the escrow info on there. We always get a letter in the mail from the escrow company with a return form to submit with the bill. The mail to info (as well as the fax in info) is on the website. For ours as long as you hand write the loan number on the bill as requested when you submit it, they get it paid, the cover sheet only really has the mailing address on it. If you do look up the info make sure it is for your state, mine is a secondary line on the FAQ about taxes as it goes to a different processor.