On a home mortgage, is there always escrow money to cover unpaid property taxes?
Feb 02, 2010 in
Questions And Answers
I was answering a question about tax liens, certificates/deeds, and considering that I’ve never taken out a mortgage, it’s a little blank spot in my knowledge.
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One comment
peacefuldisaster on February 2, 2010 at 8:53 am
No, because many lenders do not require a tax escrow account on a mortgage if the loan amount is 80% or less of the appraised value of the property. In those cases, a tax escrow account is an option for the buyer. There are some lenders that require tax escrow on all mortgage loans.
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