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| *Loan,banking and credit>>>estate tax |
How do I avoid payment of real estate escrow taxes? |
How do I avoid payment of real estate escrow taxes? I assume you are asking about the escrow required by mortgage companies, as a condition of making the borrower a mortgage loan. If you do not already have a mortgage, but are looking for one that does not require an escrow of taxes, you may be able to find a lender that will not require tax and/or insurance premium escrow deposits. This depends on the type of mortgage you apply for, and your credit rating. The lender's concern is that if you do not pay your taxes, the taxes will become a lien on the property that will be first in line ahead of the mortgage company. If your credit is very good, and the lender has little reason to believe you would fail to pay those taxes, or fail to pay the mortgage payments, it may allow you to borrow without a requirement of a tax escrow. If you already have a mortgage that requires the escrow of taxes, it will be very difficult to avoid payment of the taxes as required by your mortgage, without refinancing with a new lender that does not have such a requirement. If you don't want to pay extra money to the bank so they pay your taxes when they are due there is a form you can fill out at closing so they don't collect taxes. If you already have the escrow account contact your loan officer. If you are trying to avoid paying taxes all together good luck. You house can be sold out from under you for what is owned in taxes if you have not payed your taxes in two years. |
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