Property Taxes

If you have an escrow/impound account, we obtain your real estate tax amounts and pay the taxes as they become due. Tax payments will be noted on your billing statement. However, in certain areas, tax collectors will not release this information to lenders. If we need your assistance in obtaining your tax bill, we will forward a letter to you requesting a copy. If you receive your tax bill and do not receive a letter from us, please keep the bill for your records.

We obtain and pay regular real-estate tax bills. You should pay any other supplemental bills, or non-real estate bills you receive, such as solid waste or water/sewer bills.

We pay your taxes in the amount billed by your tax collector and does not determine the amount of your taxes. Please contact your local tax collector for information pertaining to tax amounts such as: increases or decreases, assessed values, tax rates and copies of your tax receipts.

You may be billed by one tax collector or by several tax collectors, such as county, city and school. If you have an escrow account, we pay your real estate tax bills. We receive the bill amount in various ways: The tax collector forwards a computerized tape to us which contains the billing information for properties that are covered by us. In most cases the actual tax bills are sent to the homeowners for their records. The tax collector forwards a list to us, which contains the billing information for properties that are covered by us. In most cases the actual tax bills are sent to the homeowners for their records. The tax collector sends the tax bill directly to us. The tax collector sends the tax bill to the homeowner. The homeowner, in turn, forwards the bill to us.

We will send you a written request for your tax bill if we need it. Please send us the bill only upon our request.

Call your tax collector to find out if you qualify and how to apply. If you qualify and have applied by the deadline, the tax amount we receive will include the exemption, and you do not have to notify us.

The taxing authority will notify us if your property taxes become delinquent. You will then receive a letter from us advising you that we will require evidence that you have paid the delinquent item and request that you provide a canceled check or receipt showing that you have paid the delinquent item. If we do not receive the requested information, we will pay the delinquent item on your behalf and establish an impound account to pay future property taxes. If this occurs, the impound will become a requirement for the remaining life of the loan.

Please keep the notice for your records. If you do not agree with the assessed value for your property indicated on the notice, contact the assessor's office for further information. If your assessment notice is received in our office, we will forward it to you. If you do not receive an assessment notice, please contact your assessor's office to request a copy.