We're almost done with this wild ride through the woolly world of escrow. Your final mission (should you choose to accept it) is to learn where your property taxes fit into the puzzle.
Depending where you live, you may owe property taxes to your state, city, county, school district, or other entities.
If you have a Mr. Cooper escrow account, you don't need to keep track of who gets paid at tax time, how much, or their deadlines. We'll dip into your escrow funds and do it for you.
Your tax bills have due dates. But sometimes, due dates aren't really due dates. (No, that's not an ancient Egyptian riddle.)
The point is, many taxing authorities allow grace periods for payments. Grace periods are stretches of time after a due date when you can still get your payment in without penalty.
Depending on where you live, there may be a few weeks or even months after your tax due date when we can get your payment in.
Tax bills also have a "delinquency date." This one is more serious, and if it's missed, there probably will be fees and other penalties. If you have a Mr. Cooper escrow account, we'll always make your tax payments before your delinquency dates.
Some tax authorities offer "early payment discounts." If you're eligible for these, we'll always make your payments in time to snag them. If, on the offchance, we miss the discount deadline, we'll cover the difference and reimburse the missed discount amount into your escrow account.
ISSUES WITH TAXES
If you have a Mr. Cooper escrow account and you receive a tax bill stating your payment is delinquent, let us know right away so we can sort out what happened.
You can call our tax center at 888-480-2432 immediately, or you can send us the bill. Please write your loan number on it first, then either fax it to 817-826-1861 or mail it to:
Attn: Tax Department
P.O. Box 3558
Covina, CA 91722-2505
If you get a notice that your property is eligible for a "tax sale" or a "tax foreclosure," you definitely want to call us right away. Same number: 888-480-2432.