Re: Real Estate Taxes up again in FFX County
Posted by:
Durrrrrrrrrrrrr
()
Date: August 28, 2019 12:23PM
Low marks... Wrote:
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> Get a dictionary, dope, and look up what
> 'withhold' means. Escrow amounts are taken from
> you and held in limbo by a financial institution.
> The practice of over-withholding escrow funds was
> once so common that legal formulas had to be
> implemented to put a cap on such abuse. You may
> have missed all that, even though your lender
> should be sending you an escrow statement and
> explanation at least once each year.
You're the one who used the term "withholding" incorrectly while trying to pretend that you knew something. Everyone knows how escrow accounts work stupid.
The only time that the term "withholding" applies to escrow is when funds actually are withheld. As, for example, from proceeds of a sale in the case of contingencies and taxes at settlement. Normal apportioned payment of property taxes, insurance, etc., to an escrow account as part of your mortgage payment is not "withholding." Nobody is "withholding" anything in that case. They're simply collecting and HOLDING (not withholding) the funds in escrow.