Hi guys, Maybe someone out here can give me some insight into this. Our mortgage payment is $594.00 along with taxes which are included for escrow we pay $900.00 a month to our mortgage company. They have payment listed as $900.00 monthly to the CRA's. I feel they should only be reporting the contracted amount of $594.00 and not $900 that include taxes. I have disputed this amount with the CRA's and they have verified with the mortgage company that $900.00 is correct. Should they or can they report the taxes added to the agreed amount of $594.00 to the CRA's? Doesn't seem fair or right to me that they can do this. Our obligation to them is not $900 but $594.00! I mean people's utilities and car insurance, etc... aren't included on their credit reports why should your taxes be? Tac
Their reporting is correct...because you choosed to create an escrow account with them...that means your obligation to them IS $900.
PA, and BTW they are actually pretty low, my taxes only total about $1800.00yr. Now if I moved to NJ the taxes would almost double. You gotta pay taxes and live somewhere! LOL!! Tac
Re: Re: Question about mortgage reporting? $306 X 12 = $3,672.00 ???? I believe that you are paying taxes AND home owner insurance from your escrow account...right ???
Re: Re: Question about mortgage reporting? In my $1800 figure forgot to mention that quote was only for county taxes, the rest is $399.00 a yr for insurance and the rest then goes to school taxes! Damn taxes!! LOL!! Tac
Re: Re: Question about mortgage reporting? I guess the only thing certain is death and taxes and I will choose the latter pb
Re: Re: Question about mortgage reporting? Our property taxes will be 2.4% of the value of our home, once it is built ($4320/ yr.) So I can see that figure being correct. PolarisA3
Re: Re: Question about mortgage reporting? 2.4%? OMG, that is high!! We will soon pay 1.25% or so in CA, (Monterey County).
Re: Re: Question about mortgage reporting? Well actually 1.4% the first year, 2.4% the second and thereafter....Kendall County, IL....I believe DuPage Co...is 2.5%... PolarisA3
Re: Re: Question about mortgage reporting? Here in DFW property taxes range from 2.1% to 2.7% or so - but we don't pay state income tax.
Re: Re: Question about mortgage reporting? Northern Utah. Home value: $340,000. Property tax: $1,275. And they wonder why our schools are the lowest funded in the nation. . . . . Another point of interest: I'm a Realtor and have a client who owned about 20 rental homes in Texas. He sold them all and bought homes here in Utah for the express purpose of getting away from the property tax. Always interesting to me to see how taxes vary from state to state, county to county, city to city. Property, sales, income, etc.
Re: Re: Question about mortgage reporting? My house was just appraised at $200,000 and I pay $2600/year in taxes. (RI)
