Comments on: Do lenders adjust your mortgage if your property taxes go down?

By: rwa000

rwa000 — Mon, 01 Jun 2009 15:12:45 +0000

they adjust your escrow account this is not done until the anniversary date of your mtg

By: A Real Realtor

A Real Realtor — Sun, 31 May 2009 21:02:46 +0000

Not just yet.

You will have to wait until the taxes are paid and they will do an “escrow adjustment”. Then you will see the benefit about two statements later.

By: acermill

acermill — Thu, 28 May 2009 20:04:50 +0000

Your property taxes would need to decrease significantly before the lender will make any sort of adjustment. Tax escrows are not closely calculated, and the lender will require escrow in an amount with which the lender is comfortable to insure that there are sufficient funds to pay the tax due.

If you can provide written proof that your taxes will decrease, the lender may make an adjustment, but is not required to do so.

By: Landlord

Landlord — Wed, 27 May 2009 23:12:06 +0000

They will do it right away.