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I applied for a homestead credit. Will i receive a refund now?

9 years ago

I just applied for a homestead credit that allows me to be credited $350 a year.
I have been in my house 5 years and just now applied.
The lady said that it will be applied to my 2013 property taxes. Does this mean that the mortgage company will send me a refund for the $350 since they pay the taxes out of my mortage?

I live in Arkansas by the way.

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Comments (2)

rrah
9 years ago
No, they will not refund you immediately. Mortgage companies are required by law to re-evaluate escrow amounts yearly. That is when they will send a refund. They will likely lower your escrow amount paid with your mortgage also.
greg_2010
9 years ago
Why don't you call your mortgage company and ask them what they'll do? Seems like the quickest way to get a definite answer.
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