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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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If I took a loan out against my home, and the tearms of the

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If I took a loan out against my home, and the tearms of the loan contract does not address the paymemt or none payment of property taxes.

Question: can my leander acting without any authorization from me, pay my property texas and then require me to pay them beck.

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The lender can pay the property taxes and then demand that you reimburse them for their payments.

The reason is - that their security interest in the property is at risk - that the security interest may be sold at sheriff's sale for failure to pay the property taxes if not paid.

Therefore, although the loan may not specifically state or address the issue that they/you will pay the property taxes - the mortgage or note has language within that gives them the authority to pay the property taxes and seek reimbursement from you to protect the property from being sold at sheriff sale for back property taxes.


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Customer: replied 3 years ago.

 


What it there is no language on any documents addressing the property taxes? and if there is language somewhere can the lender attach the tax reimbursement payment to the monthly PI payments, and refuse to take the monthly PI payment if it is not paid with the PI payment each month until it is paid back.

The documents may not say specifically "property taxes" but have language saying something like "infringement of their security interest" or the like.

Almost every loan contains a provision that you will pay the property taxes when due and that the failure to pay the property taxes is an “event of default.” This means that if you are delinquent on taxes, your lender could, theoretically, foreclose on your property even if you have been making all of your mortgage payments on time.


and if there is language somewhere can the lender attach the tax reimbursement payment to the monthly PI payments?

Yes. The escrow account as it’s called in many areas, came up.

and refuse to take the monthly PI payment if it is not paid with the PI payment each month until it is paid back.

Yes, again.




Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
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