Legal Question in Real Estate Law in New Jersey
mortage lending
mortage lender suddenly attaches tax escrow to a 5 yr. old account for 2 qtrs. of tax non payment,are they collecting for taxes paid?and do i have pay their escrow and my current taxes?what should i do first if they fail to disberse my escrow payments?i cannot afford to do both.
Asked on 6/16/08, 11:01 pm
1 Answer from Attorneys
Gregory Kinzel
Law Office of Gregory F. Kinzel, LLC
Re: mortage lending
There was most likely a provision in your note/mortgage providing that the lender could collect a tax escrow in the event that you fall behind on the tax payments. You should contact the lender to see whether you should pay you taxes, or whether they are paying. You may also call the municipal tax collector to confirm whether the lender has brought the tax bill up to date.
Answered on 6/17/08, 9:52 am
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