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Paying RE taxes to twice: tic and lender, can you advise
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11-29-2012 08:01 PM
Guys,
according to contracts I signed, I pay re. Taxes to tic and mortgage lender - 2 times I really need to pay.
Bank (Sterling) collects $560 monthly but 2 times a year disburse check check for $184 explaining it as: $560 is estimated SF tax which is going to be assessed within a year - it explains $560 collected tax. And $400 is an actual tax, which explains disbursement amount. Money continue accumulate on my bank escrow account when I really need them in my pocket.
Meanwhile I pay $560 monthly as a tax portion to my tic which is my obligation according to tic agreement I signed.
How do I stop paying double tax?
Re: Paying RE taxes to twice: tic and lender, can you advise
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11-30-2012 08:26 AM
ggolub wrote:Guys,
according to contracts I signed, I pay re. Taxes to tic and mortgage lender - 2 times I really need to pay.
Bank (Sterling) collects $560 monthly but 2 times a year disburse check check for $184 explaining it as: $560 is estimated SF tax which is going to be assessed within a year - it explains $560 collected tax. And $400 is an actual tax, which explains disbursement amount. Money continue accumulate on my bank escrow account when I really need them in my pocket.
Meanwhile I pay $560 monthly as a tax portion to my tic which is my obligation according to tic agreement I signed.
How do I stop paying double tax?
I don't understand what you're saying, but I think you should start with your bank (Sterling) and go from there. Sorry 



