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.
If your loan is escrowed, you can count on us to pay your taxes on time. Your escrow account will be debited about 10 business days before the delinquency date, and we’ll let you know when that happens.
The delinquency date is the last date that taxes can be paid before there is a penalty added. If, on the off chance, we miss the delinquency deadline, we’ll cover the difference and reimburse the penalty amount into your escrow account.
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.
Some tax authorities even offer “early payment discounts.” If you’re eligible for these, we’ll always try make your payments in time to snag them. If, on the off chance, 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 an escrow account and you receive a delinquent tax bill, let us know right away so we can sort out what happened.
You can call us at 888-480-2432 immediately, or you can send us the bill. Please write your loan number on it first, then send to any of the following:
Attn: Tax Department
P.O. Box 9225
Coppell, TX 75019
If you get a notice that your property is eligible for a “tax sale” or a “tax foreclosure,” you should definitely call us right away at the same number: 888-480-2432.