Where to forward tax bill for escrow with Chase Mortgage?

If you have a mortgage with Chase and you have an escrow account for your property taxes, you may be wondering where to forward your tax bill. Chase typically takes care of paying your taxes for you from your escrow account, but if you receive a tax bill directly, here is where you should forward it:

You can forward your tax bill to:
Chase Home Lending
PO Box 13495
Pensacola, FL 32591-3495

It is important to include your loan number on the tax bill to ensure it is applied correctly to your account. If you have any questions about where to forward your tax bill or how your escrow account works, you can contact Chase customer service for assistance.

FAQs

1. How does an escrow account work with a mortgage?

An escrow account is set up by your mortgage lender to hold funds for your property taxes and homeowners insurance. Each month, a portion of your mortgage payment goes into the escrow account to cover these expenses when they are due.

2. Will I still receive tax bills if I have an escrow account?

Even if you have an escrow account, you may still receive tax bills from your local tax authority. It is important to review these bills and forward them to your lender if necessary.

3. Can I pay my property taxes directly if I have an escrow account?

While you may receive tax bills, it is important to ensure your lender receives them to avoid any late fees or penalties. Forwarding the bills to your lender will ensure they are paid on time from your escrow account.

4. What happens if I don’t forward my tax bill to my lender?

If you do not forward your tax bill to your lender, there is a risk that your property taxes may not be paid on time. This could result in late fees, penalties, or even a tax lien on your property.

5. How do I know if my property taxes have been paid from my escrow account?

You can check your mortgage statement or contact your lender to verify that your property taxes have been paid from your escrow account. It is important to monitor your escrow account to ensure all expenses are being paid on time.

6. What happens if there is not enough money in my escrow account to cover my property taxes?

If there is a shortage in your escrow account to cover your property taxes, your lender may require you to make up the difference. This could result in a higher monthly mortgage payment until the shortage is resolved.

7. Can I opt out of having an escrow account for my property taxes?

Some lenders may allow you to opt out of having an escrow account for your property taxes, but this is not common. It is important to check with your lender to see if this option is available to you.

8. What should I do if I receive a tax refund check for property taxes already paid by my escrow account?

If you receive a tax refund check for property taxes that were already paid by your escrow account, you should forward the check to your lender. They will apply the refund to your escrow account balance.

9. Can I change the due date of my property taxes if I have an escrow account?

The due date of your property taxes is set by your local tax authority and cannot be changed simply because you have an escrow account. It is important to ensure your lender receives the tax bills in a timely manner for payment.

10. What happens if my property taxes increase?

If your property taxes increase, your lender will adjust your monthly escrow payment to ensure there is enough money in the account to cover the higher taxes. You may receive a notice of the change in your monthly mortgage statement.

11. Can I use my escrow account for other expenses besides property taxes and insurance?

Escrow accounts are typically used for property taxes and homeowners insurance only. It is important to check with your lender to see if they allow for other expenses to be paid from the escrow account.

12. How often should I review my escrow account statements?

It is recommended to review your escrow account statements at least once a year to ensure all expenses are being paid on time and to verify the balance is accurate. Keeping track of your escrow account can help you avoid any surprises with your mortgage payments.

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