Escrow payments [Archive]

David Merrill

11-10-12, 02:12 PM

is it possible to stop paying mortgage servicer escrow payments for property taxes on my mortgage? i'd rather deal with my county directly vs having a middle man.

You are exploring beyond my direct experience. Here is an example (http://img526.imageshack.us/img526/914/ownyourcarlawfultitletr.pdf) of no property tax on a car purchase.

Read your mortgage agreement carefully and it probably stipulates that you need to go through them for the escrow (savings) to assure that you have the property taxes when they are due. If not, that is a tactic to make it look like the bank is protecting your home from foreclosure. Of course the banks have so many homes now that they consider them toxic assets so they do not really want to end up with your home anyway. Risk management - to make you deposit into escrow for property tax time.

If you signed the agreement then you have a problem. It may be that you have a naked contract on your hands though:

http://friends-n-family-research.info/FFR/Merrill_NameDefinition.jpg

With a home I would imagine proving the contract was naked from the start would have to be done in court. If you bought your home prior to knowing about redeeming lawful money you might have a chance to convince a jury that you were defrauded by an omission. Fraud by omission. You were defrauded into accepting only a fee simple title rather than a freehold or any higher (allodial) title. - Defrauded into using the Fed's credit to buy your home instead of saving up and buying it with lawful money.