Your property tax payment and all insurance payments are due annually. Here is a breakdown of property taxes, insurance, escrow and your payment options.
Satisfying large expenses like property insurance and taxes can be difficult. That's why so many borrowers set up escrow accounts to help make the budgeting process easier.
- Nationstar Mortgage establishes an escrow account to pay for some or all of your taxes and insurance.
- You make monthly payments to your Nationstar Mortgage escrow account (payment includes amounts for taxes and insurance).
- Your property taxes and insurance payments are distributed to the designated insurance companies and local taxing authorities.
- At least once each year, your escrow account will be analyzed and your monthly loan payment amount may be adjusted to assure adequate reserves
to pay your taxes and insurance. Your Escrow Statement summarizes this annual analysis. Have questions about your Escrow Statement? View
our Escrow Statement Guide.
By paying your estimated hazard insurance (including flood insurance if required by FEMA) and property taxes each month into an Escrow Account, you should be able to manage your budget more easily.
You, as the borrower and homeowner, are responsible for paying the property taxes on your property. You can pay your property taxes in one of two ways:
- Via an escrow account. Nationstar Mortgage can manage an escrow account on your behalf and distribute the required payments to local taxing authorities.
- If you do not have an escrowed loan, you pay the taxes on your property directly to a tax-collecting agent.
If Nationstar Mortgage is managing your escrow account and you receive a property tax bill, you can mail your tax bill to:
Nationstar Mortgage
Tax Processing Center
P.O. Box 569777
Dallas, TX 75356
As a homeowner, you are obligated to insure your home. An insurance policy protects you, your home and its contents. Here is a brief overview of what your homeowner’s insurance covers:
Homeowner's insurance pays for:
- Repair or rebuilding of a house that is damaged by fire or other causes like wind damage, freezing or vandalism and other causes
- Replacement of the personal items inside your home if they are damaged by the same causes that affected your house
- Replacement or reimbursement of items stolen from your home
To learn more, call 1-888-480-2432 or contact us via e-mail.
- Via an escrow account. Nationstar Mortgage can manage an escrow account on your behalf and distribute the required payments to your insurance company.
- If you do not have an escrowed loan, you make the payment directly to your insurance company.
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