Posted on: 27th Jul, 2012 01:44 pm
We have had no tax escrow for 22 years. We refinanced & mortg was sold to GMAC. GMAC advised our tax office that we had a tax escrow account. We had a tax dispute over one quarter's taxes. The tax collector sent a delinquent notice to GMAC, not to us. GMAC paid the disputed taxes and is forcing us into a tax escrow account. They will be collecting $2672.28 over and above the tax disbursement. Is this legal, and if not, what do I do? Also, how legal is their forcing us into a tax escrow account when they incorrectly advised the tax office up front that we had a tax escrow account, causing a notice to go to them instead of us?
Hi Guest,
Nowadays most of the lenders will want you to have an escrow account wherein your property taxes and insurance premiums will be deposited. The lender will pay them from that account. There is nothing wrong if the lender asks you to opt for an escrow account.
Nowadays most of the lenders will want you to have an escrow account wherein your property taxes and insurance premiums will be deposited. The lender will pay them from that account. There is nothing wrong if the lender asks you to opt for an escrow account.
Hi Guest,
I agree with Adonis. Most of the lenders, these days, will want to go for an escrow account so that your property taxes and insurance payments don't get delinquent.
Thanks
I agree with Adonis. Most of the lenders, these days, will want to go for an escrow account so that your property taxes and insurance payments don't get delinquent.
Thanks