 Sam
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Joined: 21 May 2005
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 Posted: Sat Apr 10, 2004 5:25 pm Post subject: Annual Mortgagor Statement |
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Annual Mortgagor Statement is a yearly statement sent to a mortgagor or borrower every year. Through this statement, the lender provides the borrower with latest information on his mortgage payments at the end of the year.
The statement details what amount of taxes and interest the borrower has paid in the given year. It also states the amount of loan balance which he still needs to pay to clear his mortgage dues.
The taxes are assessed by the government agencies and are paid by the borrower for occupying the property. The tax payments are deposited on a monthly basis in an escrow account established by the lender or the mortgage company. |
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