Archive for the ‘government’ tag
Home Mortgage Gov
In Mich, a home is purchased, when after closing the mortgage co gets a letter from the city and up again PMT? ?
With all the news about saving banks from deadbeat homeowners, it is now known that people receive a higher tax bill to their mortgage payment to reflect the new home value, thanks previously ruled Engler, begging the tax base and county by 5% each year (sometimes new tax is a couple hundred more a month, now makes people excluded while incomes decline or remain the same. Is not it both govt and bank / mortgage co blame?
If your home is new construction builder or whoever owned the lot the house is built on would have to pay tax on the unimproved property that is very inexpensive. Once the home is built and occupied the taxes go up tremendously because it now has improved property. The government is entirely to blame for taxes. The mortgage company is not. The bill for taxes come from the government and the money is paid to the state. The mortgage company has no control over taxes or your homeowners insurance. All mortgage companies do is include payment for taxes and insurance in your monthly payment. This puts these funds on a blocked (non interest bearing) account and pay them when due.