working on short sale with BoA loan not escrowing taxes.  Are RE Taxes paid out of proceeds at closing by lender or from seller?

Views: 125

Reply to This

Replies to This Discussion

lender pays them as property taxes are usually a superior lien, Find out how much is owed and have escrow or title assume closing is 6 months ahead and pad the taxes to reflect a higher amount owed.

Each lender has their own guidelines, and most are willing to pay "basic" closing costs (such as the ones you described) up to 8% of sales price.

The Hud-1s we've submitted thus far on completed short sales, we've shown the taxes as a charge against the lender.

At closing by lender. 



Ocwen Contacts Short Sale Package

Started by Jan Baron in Rants and Raves. Last reply by Anna Wilk Jan 14, 2016. 5 Replies

Shellpoint Mortgage

Started by Celeste ODea in General Discussion. Last reply by Brett Goldsmith Sep 4, 2015. 3 Replies

Extension Fees & Closing

Started by Colleen J Couse in Rants and Raves. Last reply by Brett Goldsmith Sep 3, 2015. 1 Reply

© 2021   Created by Mike Linkenauger.   Powered by

Badges  |  Report an Issue  |  Terms of Service