CONFUSED about taxes...............and the Mortgage payment...........

We closed in January, and had papers drawn up with the bank to have our taxes put in with our mortgage payment , now we get a letter in the mail from the bank we have to sign so that they will pay the town, etc. the taxes? This makes no sense... did anyone else get this? I am going to call the bank tomorrow, but thought maybe you all had some insight on this.............................

Message edited 2/28/2005 7:48:50 PM.

Re: CONFUSED about taxes...............and the Mortgage payment...........

It could just be that the something wasnt signed at closing as an oversight. Or maybe miscommunication with the closer and the bank. Call then and find out. Its probably just a mistake.

Re: CONFUSED about taxes...............and the Mortgage payment...........

I think what you wrote makes sense. You have the taxes included in your mortgage payment. The bank needs you to sign some paperwork so that they can take the money included in your payment and pay your taxes with it.

Re: CONFUSED about taxes...............and the Mortgage payment...........

i agree with nov12003 .... bank need permission to pay for you on your behalf. this is very comon to have banks pay for the taxes/fess, then in turn, you pay them. (this ensure it is paid)

Your tax can be paid in full upfront by either party or seperated into your payments (intrest free).

i hope im right

Message edited 3/1/2005 12:42:53 PM.