How do you handle property tax payments?
Third Federal collects money from you in order to pay your property taxes. This money is held in an escrow account until your tax payment bill is due. In this case, Third Federal is holding your property tax money in an account that has been set up just for that purpose.
On the anniversary date of your mortgage loan, we will send an Escrow Disclosure statement to you. This statement will inform you if the amount you're currently paying into your escrow account will change. Third Federal will automatically adjust the payment amount for you.