Quote:
Originally Posted by TMI Guy
That's a valid point that it will be more difficult (although not impossible) for a homeowner who pays property taxes through an escrow process to benefit from a payment deadline extension. However, the main reason I responded was to show that there are in fact municipalities that are extending the payment deadlines ("I seriously doubt you will see any municipalities extending payment due dates for property tax").
Do you have any figures on what percentage of property taxes are paid through a mortgage processor escrow account?
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I don’t but it’s a requirement if your mortgage is more than 60% of the value of the home as the banks need to protect themselves from a tax lien which would supersede their lien if there is a foreclosure. Of my clients that own home 90% pay taxes through their escrow.
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