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if my bank pays my property taxes, how much time can they give me to pay bavk

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Guest	Posted: Tue Apr 12, 2011 3:27 pm    Post subject: if my bank pays my property taxes, how much time can they gi Like 0 Dislike 0 if my bank pays my property taxes, how much time can they give me to pay them back?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Apr 12, 2011 9:22 pm    Post subject: Like 0 Dislike 0 Hi Guest, The bank will add the amount they paid as property taxes to your monthly payments and this might increase your monthly payments. In this ways they will recover the money from you in instalments. _________________ Procrastination is the enemy of your financial success
gaarabilly Joined: 13 Apr 2011 Posts: 2 1.24 Dollars($)	Posted: Wed Apr 13, 2011 7:41 am    Post subject: Hello guest, Like 0 Dislike 0 Better to stop it right now. The more the money you borrowed the more you are in the depth of debt.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Apr 13, 2011 11:17 am    Post subject: Like 0 Dislike 0 Guest, from the way you posed the question, I have to assume that you were responsible for paying without an escrow account, and when the bank found out you hadn't, they stepped in. Is that so? If it is, part of the repayment of the debt depends on the amount that was paid to the tax collector, of course. Frankly, it's up to that particular bank how they handle the situation. If they have now insisted that you escrow for the taxes, they may have created the escrow account with that disbursement. However, I would have to surmise that they've already given you some sort of notice about when they expect your payback to take place. If that's not feasible for you, you need to discuss it with them and work out an arrangement. There is really no specific period of time that's required - it'd be up to the individual bank and you to work that out. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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