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Property Taxes In mortgage payments in Chap 13
It depends on whether lender has established an escrow, or merely advanced
to pay the past due taxes.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Raymond Bulaon
Sent: Wednesday, January 28, 2009 8:07 AM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Property Taxes In mortgage payments in Chap 13
Not sure, but in a situation like this, wouldnt the bank have already
paid the delinquent taxes (and hence the reason for the impound as a way to
collect the money from the debtor as a reimbursement)? So in a newly filed
Chapter 13, there are no more unpaid property taxes because they were
already paid by the lender. The additional amount owed would now be part of
the pre-petition arrears in the newly filed case and the mortgage payment
should go back to the original amount.
_____
The post was migrated from Yahoo.
Not sure, but in a situation like this, wouldn't the bank have
already paid the delinquent taxes (and hence the reason for the impound
as a way to collect the money from the debtor as a reimbursement)? So
in a newly filed Chapter 13, there are no more "unpaid" property taxes
because they were already paid by the lender. The additional amount owed
would now be part of the "pre-petition arrears" in the newly filed case
and the mortgage payment should go back to the original amount.
________________________________
The post was migrated from Yahoo.
This should be an easy one: Property taxes for future debtor are not
normally paid through the mortgage payment. However, future debtor falls
behind, and mortgage company impounds them to catch him up. ... causing a
temporarily increase in the mortgage payment... Question: in a newly file
Chapter 13, would the unpaid property taxes be paid through plan? Or are
they now part of the mortgage payment for the next few months until the
lates are paid?
This should be an
easy one: Property taxes for future debtor are not normally paid through
the mortgage payment. However, future debtor falls behind, and mortgage
company impounds them to catch him up. ... causing a temporarily increase in the
mortgage payment... Question: in a newly file Chapter 13, would the unpaidproperty taxes be paid through plan? Or are they now part of the
mortgage payment for the next few months until the lates are
paid?
The post was migrated from Yahoo.