Bad week.
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| Sat, 02-07-2009 - 3:22pm |
Ever since I opened my mortgage I have never escrowed my taxes or insurance. I figured I could pay it myself because in the long run it is cheaper! In my town we have a 10 month payment plan for property tax that I sign up for, long story short, I haven't made a payment since Sept. so that disqualifies me for the payment plan and when I called the tax collector, they informed me that my property taxes were being sent to a lawyer and then my taxes would be up for a tax sale! I owe them 2500.00! They were nice enough to set me up with a payment plan (but I intend to pay it all when I get my taxes). It just sucks that I was so irresponsible and let my taxes go, because I always make sure everything else is paid on time.I thought my husband was going to kill me, but surprisingly he took it very well. He did call me irresponsible which I completely deserve. So now I just wait for my refund and then hopefully I can call my mortgage company and start escrow so this never ever happens again.



Sorry that happened to you.
My credit union, which holds our mortgage, requires that taxes be escrowed with them, and I am just as happy to have them do it. I was afraid of that exact thing happening to me.
Kelly
Hey, the lesson has been learned, right?
Argghh tough one and you never feel you can catch up with such a big bill.
We do save $400 a month for our taxes and move $200 to a savings account each pay. We are not believers in escrow, but just like income taxes, most people are better off having it taken out of their control automatically.
I am in the same situation. I pay my taxes on my own. The city takes then out 10 months of the year and then nothing for November and December. I love it this way since those are Christmas months so I get "free" money to use!
Can you set up an automatic deduction? Mine allows me to pay on the 1st, the 15th or both. It automatically gets taken out of my account so I never have to worry about paying. Then in Nov and Dec, since I am used of budgeting for it, I have an extra $350 in my bank! I love it!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -