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ggolub
Posts: 1
Registered: ‎11-29-2012
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Paying RE taxes to twice: tic and lender, can you advise

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?

Platinum Super Contributor
buyinghouse
Posts: 5,877
Registered: ‎04-23-2011
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Re: Paying RE taxes to twice: tic and lender, can you advise


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 :smileysad: