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We were given a credit of 1077.00 on our settlement statement and charged 1633.31 as part of our closing costs for 7 months of prop taxes (im guessing first 7 months we owned property) . Then when we actually moved in the property taxes were actually over 4800.$ that we paid which made our escrow... View More 
answered on Sep 25, 2012
You pay property taxes the year AFTER the taxes are incurred, i.e. the first half of 2005 taxes are not due until January 2006. So your seller probably did not pay 2006 taxes, but rather paid 2005 taxes that were due in 2006. I would also guess that the seller built the house. This issue comes up... View More
answered on Sep 25, 2012
A Master Mortgage will be filed with your county recorder. The recording reference to a Master Mortgage should be included in the individual mortgage relating to a specific piece of property.
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