Springfield, MO asked in Real Estate Law for Missouri

Q: We bought a house in Oct of 2018. The seller paid the taxes for 2018 and then our lending co. paid it again. County sent

the check back to us, lending co. told us to send it bck to them. They sent it to the new lending co. & now they sent it to county again. We are told that they are keeping it until 2020 & then will do analysis. Shouldn't we get this $ back now?

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1 Lawyer Answer
Jennifer Sheila Kornblum
Jennifer Sheila Kornblum
  • Springfield, MO
  • Licensed in Missouri

A: It sounds like your real estate taxes are rolled into your mortgage payments. Usually at closing taxes are prorated between buyer and seller for the year. If the county was paid twice, the overpayment goes to the mortgage lender. The lender usually re-analyzes the tax and insurance amount once each year and adjusts your payment accordingly. That will likely happen in the next few months, not in 2020. If you are unsure what your lender is doing about the overpayment, ask them to send you an explanation in writing.

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