Property Taxes on GFE?

Posted By: Many Hats

Property Taxes on GFE? - 04/03/12 07:51 PM

If you are doing a loan to modify a open end loan to a closed end loan and requesting additional money to pay past due property taxes, the amount owed for the property taxes does go on the GFE anywhere, correct?

And, when the HUD is prepared, would this ultimately be a line item in the 1300 series?
Posted By: RR Joker

Re: Property Taxes on GFE? - 04/03/12 08:03 PM

I think you left off "not" after does above - with that important word, then you are correct.

It should go on page one of the HUD 1.
Posted By: Many Hats

Re: Property Taxes on GFE? - 04/03/12 08:15 PM

Yes, I meant to say does NOT go on the GFE. smile

The bank used a HUD-1A in this case (because it was an existing loan with the same lender), so would it then go in the 1300 series?