Investor · Clermont, FL · Member since 2015 · 51 posts · 3 votes
I recently bought a REO property about 2 months ago and yesterday I received a tax bill from the tax collector regarding the annual property taxes. On the bill it says , the former mortgage company has requested a copy of the bill. I called the tax collector office and ask them why is the former company getting involved with taxes, it is my responsibility now . She did not know the answer but told me to call Nation star mortgage and find out from them. I called and was on hold for 20 mins to the point where I got angry and just hanged up the phone because why do I have to waste time on this matter. I will pay my bill at the end of this month, but I am just curious to know what would happen if they mistakenly paid the bill before I do?
REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
10y
I wouldn't worry about it. Just pay it. Odds are that they will not pay them, they just have it on file to get a copy. Once the bill comes in one of their reps will see it and not pay the bill. If they do accidentally pay it, they will go back to the town and ask for a reimbursement, which will be something they have to fight out and will have nothing to do with you. So I would say just pay your part and go on being happy :)
Wholesaler · Memphis, TN · Member since 2015 · 49 posts · 28 votes
10y
Take a look at your closing documents, particularly the hud-1. It will show if taxes were paid at closing or if they were prorated and if so who got the credit for the proration. Also did you pay cash or have a mortgage? Was there escrows if there was a mortgage? Theres really not anything to worry about so ill wait to see what happens and just pay it when its due.
Take a look at your closing documents, particularly the hud-1. It will show if taxes were paid at closing or if they were prorated and if so who got the credit for the proration. Also did you pay cash or have a mortgage? Was there escrows if there was a mortgage? Theres really not anything to worry about so ill wait to see what happens and just pay it when its due.
If you purchased the REO via traditional closing then there should be that proration on the HUD. If you bought the property via simple quitclaim, then you are on the hook for all unpaid taxes, generally.
Take a look at your closing documents, particularly the hud-1. It will show if taxes were paid at closing or if they were prorated and if so who got the credit for the proration. Also did you pay cash or have a mortgage? Was there escrows if there was a mortgage? Theres really not anything to worry about so ill wait to see what happens and just pay it when its due.
Hi Mike,
The home does not have a mortgage and the taxes previously paid was not prorated so oi assume it will be no big deal now. thanks for replying.
I wouldn't worry about it. Just pay it. Odds are that they will not pay them, they just have it on file to get a copy. Once the bill comes in one of their reps will see it and not pay the bill. If they do accidentally pay it, they will go back to the town and ask for a reimbursement, which will be something they have to fight out and will have nothing to do with you. So I would say just pay your part and go on being happy :)