QUESTION
Can I pay my property Taxes if my mortagage company always late in paying my property taxes?
Asked on Nov 17th, 2014 on Real Estate - New Jersey
More details to this question:
My Mortgage company collecting taxes in my monthly mortgage payment but they always late and lately I received a note from my Borough tax collection that they will conduct an accelerating tax sale on Tuesday, 12/16/2014. That would affect my credit and my attempt to refinance to get red of them. So, legally do I have the right to pay them the Interest and principal only and I pay my own taxes?
1 ANSWER
2 Awards
You can always pay your own property taxes, but your mortgage company may make it a requirement that they pay. Therefore, the mortgage company will still be requiring you to pay into an escrow account for that they will use for the payment of the taxes. You would then get a "credit" back when the mortgage company eventually pays the taxes.
Answered on Nov 17th, 2014 at 8:23 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship