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Updated about 11 years ago on . Most recent reply

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
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Tax bill not paid by escrow

Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorPosted

Our taxes are all in escrow and here we have a tax bill due 3/1 and then again 8/1 - well our 8/1 tax bill has not been paid and I have been calling for months to try and get this resolved. Finally they issued a disbursement for the tax bill 3.5 months late - and "accidently" double paid. Now they are apparently issuing a request for a refund - what, if any, legal action can I take?

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Second City Real Estate
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20 Reviews

Most Popular Reply

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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
ModeratorReplied

@Brie Schmidt

As the result of a very similar experience, we do not pay our property taxes through the lender on any property.

We make a monthly payment into a trust account and pay the taxes when the come due each year. The added bonus is we get to keep the interest earned (even it it is only a whopping 2%) rather than the bank getting free use of our funds.

  • Roy N.
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