The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (30823)	5/6/2005 4:24:02 PM
From: Elroy Jetson	Read Replies (2) of 306849

Mortgage companies can't really trust Baltimore citizens to pay their own taxes, can they? Impound accounts are optional on most mortgages in California. The mortgage company does usually files a notice with the county and the insurance company so they get notified if the "owner" of the bank owned home drops their insurance or fails to pay the tax. One might think this could trigger an acceleration clause - but it hasn't yet in any case I'm familiar with. .

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