Quite often, I am presented with questions that I think more than just the person asking the question can benefit from. Below is a question regarding property taxes.
“TJ ~ Hope you’re doing well! We are finally coming back into a normal routine now that the baby is here – and I wanted to follow up with you. I know that your company doesn’t actually handle our loan, but we wanted to ask to make sure that our Mortgage Company is paying our property taxes and we don’t need to? I’m pretty sure they are through the escrow account as we learned in our First Time Homebuyer class, but I keep seeing that bill in my files and wanting to double check… And it was on my mind so I thought who better to ask!
“You are correct, your mortgage company is escrowing for Real Estate Taxes & Homeowners Insurance. So that is one bill you do not need to pay.
But you do want to review it and compare it to last year. It will edge up and down with property values and mill levy’s. So that can adjust your payment slightly. Same with your insurance.”
Do you have a question for me? Feel free to ask in an email or in the comments below!
And again, this highlights the importance of attending a First Time Home Buyer’s Class.Leave a reply →