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BankersOnline.com Forums State-Specific Compliance Issues Illinois Initial Escrow Anaysis - Cook County
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#1096400 - 12/12/08 04:27 PM Initial Escrow Anaysis - Cook County
sixspeed Offline
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Joined: Oct 2007
Posts: 16
Chicago Area
When calculating the Initial Escrow Analysis what months are being used for RE Tax payment dates. The 1st payment is always March, however the 2nd Payment varies bewteen September and November. Illinois Dept of Revenue tax guide states taxes are due August. I would appreciate any advice. Thank you-

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#1105095 - 01/02/09 10:24 PM Re: Initial Escrow Anaysis - Cook County sixspeed
Dave M_TCA Offline
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Dave M_TCA
Joined: Oct 2000
Posts: 686
Wherever my most benevolent em...
We would always use the dates for when the payment was due.
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David J Mulkerin, CRCM
All opinions expressed are mine and not those of my employer and are not to be taken as legal advice.

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#1105210 - 01/04/09 04:17 PM Re: Initial Escrow Anaysis - Cook County Dave M_TCA
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,356
Galveston, TX
RESPA:

3500.17(c)(2) Pursuant to paragraph (k) of this section, the servicer must use a date on or before the deadline to avoid a penalty as the disbursement date for the escrow item and complying with any other requirements of paragraph (k) of this section.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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