How Long Before Bank Pays My Delinquent Property Taxes

[Coleu]

the Royal Bank of Scotland writes mortgages in California? Wow, I didn't realize that.

There are a variety of different criteria you can use to determine what "the largest" means. Using different criteria different banks can be deemed the largest.

Keep in mind that when you research, Wikipedia is not considered a reliable source. It's an OK place to start your research, but you must verify any facts with more reputable sources.

I don't claim to have experience in this area, which is why I didn't attempt to answer your question. However, I don't have to be either a lawyer or delinquent in my taxes to know that your assumptions that first, you are entitled to pick and choose who answers your post; second, that there are dozens of volunteer experts from all states and in all areas of law hanging out on a message board waiting for you to post; and finally, that there is one across the board answer that will apply in all situations, are all wrong.

no need to troll.

[cbg]

And there's no need for your unspeakable arrogance.

[Coleu]

And there's no need for your unspeakable arrogance.

Again, no need to troll.

[cbg]

http://www.doughroller.net/banking/l...-in-the-world/

[Coleu]

http://www.doughroller.net/banking/l...-in-the-world/

Well goodness, everyone knows doughroller.net is considered THE place for reputable financial information. I hear the FDIC comes to them for advice. And doughroller.net is definitely a step-up from Wikipedia.

*snicker*

[jk]

Well goodness, everyone knows doughroller.net is considered THE place for reputable financial information. I hear the FDIC comes to them for advice. And doughroller.net is definitely a step-up from Wikipedia.

*snicker*

as you have said; how you determine the size makes a difference. If using tier one capital, BofA rates among the highest. If you use total assets, they fall down several steps, regardless of whom you seek the data from.

Of course, tier one capital is calculated by adding retained earnings to the calculated stock value and of course we all know the stock value of a company never changes (snicker). I prefer to use total assets when determining who is the largest bank in the world. To me, it is a more accurate reflection of the actual worth of the bank as well as a more static valuation.

[Coleu]

To me, it is a more accurate reflection of the actual worth of the bank as well as a more static valuation.

That's great, but not relevant to my original post. However, thanks for letting me know what you consider to be the more accurate reflection of the actual worth of a bank. I don't know how I was ever able to live without that fact floating around in my head.

[jk]

(a) (1) No impound, trust, or other type of account forpayment of taxes on the property, insurance premiums, or otherpurposes relating to the property shall be required as a condition ofa real property sale contract or a loan secured by a deed of trustor mortgage on real property containing only a single-family,owner-occupied dwelling, except: (A) where required by a state orfederal regulatory authority, (B) where a loan is made, guaranteed,or insured by a state or federal governmental lending or insuringagency, (C) upon a failure of the purchaser or borrower to pay twoconsecutive tax installments on the property prior to the delinquencydate for such payments, (D) where the original principal amount ofsuch a loan is (i) 90 percent or more of the sale price, if theproperty involved is sold, or is (ii) 90 percent or more of theappraised value of the property securing the loan, (E) whenever thecombined principal amount of all loans secured by the real propertyexceeds 80 percent of the appraised value of the property securingthe loans, (F) where a loan is made in compliance with therequirements for higher priced mortgage loans established inRegulation Z, whether or not the loan is a higher priced mortgageloan, or (G) where a loan is refinanced or modified in connectionwith a lender's homeownership preservation program or a lender'sparticipation in such a program sponsored by a federal, state, orlocal government authority or a nonprofit organization. Nothingcontained in this section shall preclude establishment of such anaccount on terms mutually agreeable to the parties to the loan, if,prior to the execution of the loan or sale agreement, the seller orlender has furnished to the purchaser or borrower a statement inwriting, which may be set forth in the loan application, to theeffect that the establishment of such an account shall not berequired as a condition to the execution of the loan or saleagreement, and further, stating whether or not interest will be paidon the funds in such an account. An impound, trust, or other type of account for the payment oftaxes, insurance premiums, or other purposes relating to propertyestablished in violation of this subdivision is voidable, at theoption of the purchaser or borrower, at any time, but shall nototherwise affect the validity of the loan or sale.

as you can see, your claim that an impound account is only allowed to be mandated if the loan to value ratio exceeds 90% is WRONG. There are plenty of other reasons that allow a mandatory impound account.

[cbg]

Well, goodness, everyone knows that Coleu's assessment must be absolutely the last word and must be accepted by the masses as 100% accurate.

I don't give a damn whether your bank is or is not the largest one in the world. Nor do I give a hoot what you consider to be a reputable source. But your assumption that jk MUST have not only used Wikipedia, but relied on it as absolutely accurate in every degree is just another example of the arrogance I mentioned above. And your similar assumption that I am likewise relying on the source I posted as being one hundred percent correct in all respect is just as bad.

And you think I'm trolling?

Take your problems and your tax delinquency and put it where the sun don't shine, pal. You're not worth as much of my time as you've already had.

[Coleu]

as you can see, your claim that an impound account is only allowed to be mandated if the loan to value ratio exceeds 90% is WRONG. There are plenty of other reasons that allow a mandatory impound account.

Wow, unknowingly, your rote copying and pasting of a statute actually answered my question, lol!

From above:

"C) upon a failure of the purchaser or borrower to pay two consecutive tax installments on the property prior to the delinquency date for such payments"

That explains it. They need 2 consecutive installments to be delinquent.

Thanks jk. Even though you don't know what you are talking about, you unknowingly gave me useful information!