Property Taxes and Escrow Accounts
September 20th, 2006Our property tax bill has arrived, and not surprisingly we do not have the cash in our checking account to pay it. Not that that is anything to worry about; it is what the escrow account that is bundled into our mortgage is for. Every month, our mortgage is divvied up into principal, interest, and escrow payments; the escrow payments are for insurance premiums and property taxes.
I am not sure if I need to do anything to get that money out of escrow, however, or whether the bank where our mortgage is held takes care of it. I have been meaning to call them and ask all week, but I have not had an opportunity to do it yet. I am going to try to remember to call tomorrow to find out what I need to do in order to get our tax bill paid. We still have nearly a month, so I am not too worried about it yet.
September 22nd, 2006 at 12:54 pm
[…] Property taxes were handled automatically September 22nd, 2006 I finally got around to calling our mortgage lender today at lunch time, and it turns out that they already had my tax bill and have it scheduled to be paid in a couple of days. […]