Escrow Account?

[347Mike]

I was wondering if someone can help explain this to me.

I was under the impression that my property tax and insurance would all come from my mortgage or is tied in with my mortgage payment? When I login to my mortgage account and look at it I see a itemized list that shows insurance and tax's.

Now I am a fairly new home owner so some of this is quite new to me.

This is the second year now I have recieved a letter from the Denton County Tax Assessor/Collector for tax's due. I wouldn't be so worried if it was a small amount but we are talking about $1,500+.

Can someone help explain this, is this something differen't than what is contained in an escrow account? I also noticed that the appraisal change was -6.6% last year and 8.4% this year. The tax for last year was -6% (yet I still paid) but this year is now 4.11% and is close to the same amount I paid last year.

I am confused, please help!

[AdamLX]

You still got a copy of what is due and when. Sometimes it will state that you are receiving it because your lender requested it too.

[347Mike]

You still got a copy of what is due and when. Sometimes it will state that you are receiving it because your lender requested it too.

Even if it looks like a bill? It has the typical VISA, DISCOVER, American Express icon, states who to make checks out to, everything to make it look like a bill?

If that is the case, what does that mean about last year? Did I pay that in error?

[AdamLX]

Somewhere on there it should say "requested by...". If you paid it yourself AND have an escrow account I would call the lender and the county to see what was paid and when.

[Rafa]

^^
what he said.

It will look like a bill. There's a box with lenders name in it and below it I think will say they requested it. Appraisal for mine took a big dip last year. I think I was # 3 on the list of cities that took a major dip for Collin county.