Posted on: 28th Jan, 2008 02:02 pm
Refinanced thru Citi Mortage was told prior to closing would not be required to include ins. & taxes in payment. At closing was told this was a requirment Decided to go ahead with the closing even though we were quite disturbed. and was informed the state of TX requires we pay $260.00 to be released from escrow.
Welcome Fisherjohn.
The mortgage company didn't make any agreement stating that you need not pay the taxes and insurance, isn't it? So, I don't think they will agree if you try to convince them not to demand taxes and insurance payments on a monthly basis.
Even if you don't pay the insurance and tax payments, you will have to pay them off separately. So, you need to decide whether to pay them separately or along with your mortgage payments.
Thanks.
The mortgage company didn't make any agreement stating that you need not pay the taxes and insurance, isn't it? So, I don't think they will agree if you try to convince them not to demand taxes and insurance payments on a monthly basis.
Even if you don't pay the insurance and tax payments, you will have to pay them off separately. So, you need to decide whether to pay them separately or along with your mortgage payments.
Thanks.
Refinanced thru Citi Mortage was told prior to closing would not be required to include ins. & taxes in payment. At closing was told this was a requirment Decided to go ahead with the closing even though we were quite disturbed. and was informed the state of TX requires we pay $260.00 to be released from escrow.
There isn't any law in TX thats says you need to pay 260 dollars to have your escrows waived.....That is actually a charge from CITI...and is on there rate sheets on the wholesale side....However.....if your loan to value is over 80% and you have a conforming loan then you must escrow taxes and insurance......It's not a law but a PMI requirement.
There isn't any law in TX thats says you need to pay 260 dollars to have your escrows waived.....That is actually a charge from CITI...and is on there rate sheets on the wholesale side....However.....if your loan to value is over 80% and you have a conforming loan then you must escrow taxes and insurance......It's not a law but a PMI requirement.
Our property taxes were not to be assess in the mortgage payment. The Mortgage Co. - Countrywide paid the taxes for 2008 prior to the Brazoria County release of tax information. Then increase our Mortgage payment by $900.00. I am disable Vet., am I required to pay taxes to Mortgage Co.
Do you have an exemption from the state of TX due to your disability? If you do then get a copy of that and forward it to CW.
Thank you for your service.
Thank you for your service.
told it was texas law that property taxes & insurance were to be added to mfg home loan, for the life of the loan. we own our land but don't want to use land as collateral and would like to purchase insurance (better coverage) and pay property taxes separately.
Hi daphne!
Welcome to forums!
You should contact your lender and discuss the matter with him. The lender will let you know whether or not he will allow you to go for another insurer for better coverage and pay property taxes separately.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You should contact your lender and discuss the matter with him. The lender will let you know whether or not he will allow you to go for another insurer for better coverage and pay property taxes separately.
Feel free to ask if you've further queries.
Sussane