Tax returns

[soda7o]

Originally Posted by ZeRo_C0oL

How many fucking houses do you have, and what do you do? Good lord...

i compete with THE DONALD!
( i wish)
not many...

[Marker54]

Originally Posted by yb929rr

quick question. i was told in nj you have to have the mortgage co. pay the taxes and stuff????

It is not manditory in NJ that you set up ecrow through the mortgage company. The banks prefer escrow so they can be sure that you are paying the taxes on time, (ie. no state liens being filed against the home for unpaid taxes) and so that they know the home (thier money) is being insured.

I deal with shit when ever I write a Homeowners policy. Unless you put down 50%, the bank will "stongly suggest" that the taxes & insurance is paid through escrow.

Kind of a bull shit deal, but it usually helps new homeowners anyway because your first year of ownership usually comes with serious personal budgeting issues. Being smacked with a ~$2k quarterly tax payment right after a closing usually means your checking account is bouncing higher the a rubebr super ball!!

[soda7o]

Originally Posted by Marker01

It is not manditory in NJ that you set up ecrow through the mortgage company. The banks prefer escrow so they can be sure that you are paying the taxes on time, (ie. no state liens being filed against the home for unpaid taxes) and so that they know the home (thier money) is being insured.

I deal with shit when ever I write a Homeowners policy. Unless you put down 50%, the bank will "stongly suggest" that the taxes & insurance is paid through escrow.

Kind of a bull shit deal, but it usually helps new homeowners anyway because your first year of ownership usually comes with serious personal budgeting issues. Being smacked with a ~$2k quarterly tax payment right after a closing usually means your checking account is bouncing higher the a rubebr super ball!!

before buying a home youshoudl knwo what youa re getting into and have enough$$

[Mack]

It also depends on how much money you're putting down on your house. For instance since I didn't put shit down on my house I had to put my home owners into an escrow for at least the first year. Anywya I'm getting like 2K back it will definately pay off a few bills.

[Marker54]

Originally Posted by soda7o

before buying a home youshoudl knwo what youa re getting into and have enough$$

Yeah, but they never do! Thats why people are stupid, and banks love stupid people.

[yb929rr]

how do i go about stopping the escrow accout, if anyone knows?

[soda7o]

Originally Posted by yb929rr

how do i go about stopping the escrow accout, if anyone knows?

call your bank...

[yb929rr]

good thinking. thanks.