Stephanie Woods Team
Keller Williams
3033 Windsong, #202
Prescott Valley, AZ 86314
(928) 237-4435
Nov 20, 2012
Property Taxes
Something to consider - Many of America's homeowners have what is called an impound account that is held by your mortgage company. When you make your monthly mortgage payment you are usually including 1/12 of your Property Taxes and Homeowners Insurance. When your taxes and insurance come due, your mortgage company makes those payments on your behalf out of your impound account. If you stop making your mortgage payments, for whatever reason, and your taxes are impounded, odds are your taxes will stop getting paid. This could create an interesting situation. Your property taxes are considered a first lien position, and if they aren't paid, you could lose your home and still potentially be responsible for paying off your mortgage. Click on the link below for an interesting article regarding this very topic - If you have questions regarding a short sale, foreclosure or sale of your home, call us! We're happy to assist you and answer any questions you may have. We Work For You at the Stephanie Woods Team. We're just a phone call away!
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