Trust Accounting Center
1419 6th St. | P.O. Box 730
Anacortes WA 98221


Local Number:
360-293-0661
Toll-free Number:
800-562-2044
Fax:
360-293-0662
Email:

Tax Payer Accounts

More and more borrowers are seeking someone to collect and hold a monthly sum to be used to pay their taxes and/or insurance. This demand has arisen for two reasons. First, many borrowers find they can manage these expenditures better if they pay in installments by adding an additional amount to their mortgage payment each month. Second, many lenders who once insisted on reserve accounts are no longer willing to handle them.

If your lender will not collect reserves, but you wish to pay toward your taxes and/or insurance along with your monthly loan payment, then a Trust Accounting Tax Payer Account may be for you.

A Tax Payer Account is simple and convenient. It allows you to pay your mortgage and save for taxes and/or insurance by writing a single check. In addition, an optional Automatic Payment Plan is available. Once paid, your reserve funds are out of reach until the tax and/or insurance bill is due.

As a Tax Payer client, you are assigned an account number and provided with a book of payment coupons and mailing labels. You then make a single payment to us each month. This payment is the sum of your regular mortgage payment, the amount to be reserved for future taxes and/or insurance and the monthly fee for our services.

The loan payment portion is passed on to your lender for credit to your loan. The reserve portion is held by us until semi-annual taxes and/or annual insurance come due, at which time we pay these obligations for you.

Please consider the advantages of a Trust Accounting Tax Payer Account. If you decide an account is to your advantage, we would welcome the opportunity to be of service. The Tax Payer application can be found on our forms page.