Newsflash: Quicken Loans Property Tax Underestimate –> payment jump?

Hi,Attorney, here. Have heard from a few clients who financed with Quicken Loans and had their loan payments jump several hundred dollars after first year due to ‘unforeseen’ increases in their property taxes. Thing is, tax records don’t support the increase. Theory is that this could be a gross underestimate of taxes by Quicken to make loan payments seem smaller (aka more/actually affordable) so as to entice signing. Anyone have any thoughts/experience/knowledge of/with the above?Thanks,MEdit to appease the LocationBot: Philadelphia, PA

Read more at https://www.reddit.com/r/RealEstate/comments/6qmafo/quicken_loans_property_tax_underestimate_payment/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s