You hear it all the time in California real estate circles --- "your second installment of property taxes is due on April 10."
False!
Your second installment of CA property tax is LATE after April 10, meaning that if you do not have your payment postmarked or paid by this date, you'll incur a 10% penalty. Yikes!
So if you are not currently impounding (aka "escrow") your property taxes, in which case your mortgage servicer will submit the tax payment to the appropriate county, you have to make sure your taxes get paid by the … (1 comments)
Are you one of the 77% of U.S. adults who takes some form of nutritional supplement? If so, you've contributed to the estimated $31 billion dollars of revenue that this industry generated in 2018. So it stands to reason that California counties would want in on the supplemental action, and they've figured out just the way to do it...
Seriously, taking on home ownership for the first time is a big responsibility. And since many first-time buyers are coming from a background of paying rent, it's important that we, in the mortgage industry, educate them about how … (13 comments)
When a homebuyer, or homeowner looking to refinance, obtains a mortgage, there are always associated costs. Even in the so-called "no cost" loan structures, trust me, you're paying something. When a consumer does the research on what it will cost to get a loan, there are a few ways to categorize and better understand what's being charged. Specific numbers will vary wildly depending on the nature of the transaction, the amount and where the settlement takes place. A key takeaway of this article will be to differentiate between a "cost" and a "settlement charge." They are not … (4 comments)
When renters desire to become home buyers, they quickly learn once in the mortgage process that their single rent payment will morph into "PITI" or "principal, interest, taxes and insurance," or a "total monthly housing payment." So, yes, there are additional monthly expenses to consider when you become an owner. Historically, ownership has bestowed tax benefit on the buyer and that's been an offset to the higher cost of ownership and because of this, the "rent vs. own" calculation has been used to more fairly compare the cost of putting a roof over one's head. Rent may be simpler, … (2 comments)
As I write this in March of 2018, my very own Marin County property tax bills sit alongside my computer on my desk, awaiting payment of their second installment. No doubt with the same procrastination exhibited by most fellow Marin County property owners, I still thought it was a ripe opportunity to share some basics on how, when and where to pay our real estate taxes and at the same time avoid the consequences of late payments.
Property Tax Bill Information and Due Dates Secured property tax bills are mailed in October and payable in two installments: First installment due date: November … (1 comments)
In California the Real Estate Property Taxman Comes April 10th!
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