Quote:
Originally Posted by BigRedChief
I’ve always put my property taxes, flood and regular house insurance into an escrow with the mortgage payment. Welllll after once getting unexpectantly caught with a $5K bill.
|
We purchased our home in 2003 and refinanced in 2012.
During that time, property tax had to be paid directly to the county because Jumbo Loans weren't eligible for Property Tax escrow. Same for home owner's insurance - I pay directly each month.
I don't know if the law has been changed since but I'm required by LA County to pay my property taxes on time in November and April or face massive penalties.