I now hate impound accounts.

[Demon-Xanth]

I bought a house in February and they take money out to pay taxes and insurance. They've paid two tax installments of $600/ea. My escrow account now has $2800 in it. This is my money that I've paid the mortgage company every month.

So the county sends me a "Supplemental tax bill" that will not be paid by the escrow account for 2007-2008. 150 due by the end of the year. 150 due in April. So I go ahead and pay both. What do I get when I come home? ANOTHER supplemental tax bill for 2008-2009, again, not covered by the escrow account. But this one is $860. Again, half due by the end of the year.

Cliffs:
have $2800 of my money set aside for paying taxes not making me a cent in interest that I can't touch nor use to pay the $1100 in tax bills while I get charged interest on money borrowed by the people holding my money.

Merry f'ing Christmas sac county.

 

[Capt Caveman]

I'm in the same boat. At the end of the year, the escrow account will be analyzed and you will get your money back based on the balance and no payments being made this year. However, the account is making interest.

 

[compman25]

Originally posted by: Demon-Xanth
I bought a house in February and they take money out to pay taxes and insurance. They've paid two tax installments of $600/ea. My escrow account now has $2800 in it. This is my money that I've paid the mortgage company every month.

So the county sends me a "Supplemental tax bill" that will not be paid by the escrow account for 2007-2008. 150 due by the end of the year. 150 due in April. So I go ahead and pay both. What do I get when I come home? ANOTHER supplemental tax bill for 2008-2009, again, not covered by the escrow account. But this one is $860. Again, half due by the end of the year.

Cliffs:
have $2800 of my money set aside for paying taxes not making me a cent in interest that I can't touch nor use to pay the $1100 in tax bills while I get charged interest on money borrowed by the people holding my money.

Merry f'ing Christmas sac county.

Why won't your escrow account pay it? Ours does, we just forward them the tax bill and if we have the money in the escrow account they pay it.

 

[kt]

What's the reason for the second supplemental tax bill? It's usually only after the first year you've bought the house.

 

[BoomerD]

Have you made major improvements to the house? That's usually the only thing that triggers a supplemental tax bill. Otherwise, your impound account SHOULD automatically take care of tax increases and things like school bonds...

Get ready for a real ass-rape when Schwartzenactor signs the bill tripling the car tax...again. (back to the rate where it was before Wilson lowered it, then Davis raised it, then Schwartzenactor lowered it again...

He has proposed a $12 increase across the board which wouldn't be too hard to take, but 300% is a bit much. I bitch about all the unlicensed (and thus uninsured) vehicles on the roadway now...holy shit.

 

[TallBill]

As a non home-owner I'm completely confused.

 

[kranky]

Originally posted by: compman25
Why won't your escrow account pay it? Ours does, we just forward them the tax bill and if we have the money in the escrow account they pay it.

That's my question as well.