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I want to escrow my own taxes and was told no. Also, lender…

Customer Question
I want to escrow...

I want to escrow my own taxes and was told no. Also, lender is going to transfer my loan immediately and I fear there terms won't agree with my plans.No I have not been told who they will sell it to. Closing is next Momday, seller is having his closing Thursday.

Lawyer's Assistant: Where is the property located?

Cypress, tx

Lawyer's Assistant: Has any paperwork been filed?

Not sure

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I over 65 and will take that exemption plus homestead. the homeloan amount is 204k with 4.490% estimated payment today is $1,801.with taxes insurance 665. monthly. Numbers keep changing.

Submitted: 5 months ago.Category: Real Estate Law
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Answered in 6 minutes by:
11/15/2017
Real Estate Lawyer: P. Simmons, Lawyer replied 5 months ago
P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 36,571
Experience: 12+ yrs. of experience including real estate law.
Verified

Thanks for the chance to help. I am an attorney with over 12 years experience. Hopefully I can help you with your legal question.

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Real Estate Lawyer: P. Simmons, Lawyer replied 5 months ago

I am sorry for this dilemma. But not sure I understand your specific question. Are you asking if the lender can legally require you, as part of the loan agreement, to escrow (impound) taxes as part of the payment?

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