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Lender Paid the Taxes |
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We opted to pay for our property taxes ourselves without an escrow account. We were late paying them and so our mortgage company paid them for us unbeknownst to us. We did not find out until we received a bill for our new payment(now with an impound account) which was doubled by $2000. We've tried to speak with the mortgage company and let them know we do not want them paying our taxes but they refuse to remove the escrow account and said that this was stated in our original documents. The section where they have stated this information is does not state that they can add an impound account. Is this possible? |
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It's understandable that the mortgage company is worried when your propety taxes aren't paid, because if you lose the property to a tax foreclosure sale, they lose the security for their loan. As for their right to open an escrow account if you're late in paying -- I haven't seen your documents so I can't judge that. Sorry. |
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Edith
Originally published on September 26, 2007 |
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