No. Mortgagees may only advance property taxes on behalf of HECM borrowers, who are responsible for paying their own property taxes, when the borrower has not paid their property taxes prior to the HECM due date. However, if the taxing authority extends the due date for property taxes, the date upon which the mortgagee can advance property taxes on behalf of a HECM borrower is also extended if the HECM is not due and payable.
For additional information, see:
- Mortgagee Letters 2015-10, 2015-11, and all other MLs are available at: https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee