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FINALLY, got us a short sale :)
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[QUOTE]Originally posted by N8: [QB] [QUOTE]Originally posted by Luke87GT: [qb] [QUOTE]Originally posted by N8: [qb] [QUOTE]Originally posted by Luke87GT: [qb] N8, I am curious how the property taxes of your former place come into play when you walk on a loan like that? Can you provide any insight on this? Were you paying PT to the county directly, or did the bank set up an escrow account where they collected funds monthly to ensure that you have enough dough come tax season? I am refinancing right no on a 80-105% LTV loan, and one of the stipulations is that you pay the bank PT monthly. During tax season, the bank pays the county directly. [/qb][/QUOTE]Just to add, this was our first home and is unfortunately a sub-prime style loan. We are holding on to our rental property and our land. [/qb][/QUOTE]Thanks for the insight. Also, what do you mean by the statment above? And Predatory loan? [/qb][/QUOTE]Predatory lending is/was the whole subprime loan situation. Even tho we could afford our stuff, we got into the loan with the hopes of a refi and all that jazz. So our current loan was an undesirable one. [/QB][/QUOTE]
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