Taxes and mortgages

Many lenders therefore require home owners to make their property tax payments through them in monthly installments. 

Every home owner pays property taxes to their municipality

If you don’t make those payments the municipality can place a lien on your property. This puts your mortgage lender in second place to be repaid should you run into money troubles and have to file for bankruptcy.

Make sure you stay up to date with your current year’s municipal assessment and tax rate, and keep track of what the lender is taking from you. If they’ll let you, and you can budget carefully, you might want to make your property tax payments directly to the municipality.
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