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#1756404 - 11/08/12 04:36 PM Paying annual taxes vs setting up proper escrow.
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,394
If escrowing borrower choses Option 1 or 2 on the taxes and the bill is being paid at time of closing, how does your system show taxes on the initial taxes and insurance document and the first payment letter?

Ours is putting $0 on both because the next payment is due outside the 12 months shown on the T&I disclosure.

So the borrower is being told they're going to be 25% short at the time of escrow analysis in February. (payment shock)

This can't be right, can it?

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#1758592 - 11/16/12 03:03 PM Re: Paying annual taxes vs setting up proper escrow. Truffle Royale
Beagles22 Offline
Power Poster
Joined: Jan 2004
Posts: 3,626
State of confusion
I have already chimed in :-) hope you came to a solution!
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