putting taxes in escrow

[littlebear04]

Hello we never had our taxes put in escrow and were paying them on our own. Due to a tenant issue we fell one year behind. Now our mortgage company has put our taxes in escrow. Can they make us put our taxes in escrow now.

 

[jharris352]

Yes they can. There is a provision in your Security Instrument that allows them to force an escrow if you fall behind. Failure to pay taxes or insurance is a threat to their collateral interest and therefore your option is to either establish escrow as they have requested or face them calling the note due and payable and subsequent to you not paying it in full they could foreclose. Sorry.