What is the mello roos tax for 27950 John F. Kennedy Drive, Unit C, Moreno Valley, CA 92555, and are they usually included in an impound account?

Asked by Cecooper2, 92555 Wed Nov 16, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Mario Gonzal…, Agent, Riverside, CA
Wed Nov 16, 2011
Cecooper2,
This property is currently in escrow - so I am assuming that you are the buyer in that transaction and for that CONGRATULATIONS ! Please have your agent help you with this. You need to contact the County Tax Collector's Office ( they have an online form: http://riversidetaxinfo.com/riverside_publicinquiry.asp) or you can call them (see: http://www.countytreasurer.org/contact_us.aspx) Additionally, you will most likely receive a NATURAL HAZARDS DISCLOSURE REPORT, in which most likely you'll have a breakdown of the taxes for this property. The Mello-Roos information should be part of the property tax breakdown and will have telephone numbers for you to call to obtain additional information from the Mello-Roos holder (such as potential increase caps, length of time, and yearly amount). Be sure to supply this information to your lender IMMEDIATELY, and DEFINITLEY before you sign loan documents so that your impound account is set up properly, otherwise risk having your monthly payment jump as your lender makes adjustments months after the close of escrow to accomodate the mello-roos, and these later adjustments are much higher than if you were to have the impound account set up properly from the beginning. - Once again, CONGRATULATIONS on your home purchase !, Most Sincerely, Mario Gonzalez
1 vote
Lisa LeQuire, Agent, Moreno Valley, CA
Tue Dec 6, 2011
Not sure I would consider $250/mo low for HOA.
0 votes
Garrigus Real…, Agent, Redlands, CA
Tue Dec 6, 2011
The Mello Roos for this complex is quite high, but if you're in love with it the good news is the HOAs are low. Most lenders require Mello Roos to be impounded, but if you're buying cash obviously that would not be the case.
Web Reference:  http://8889listit.net
0 votes
Lisa LeQuire, Agent, Moreno Valley, CA
Thu Nov 24, 2011
I just closed on my second condo for this complex. Give me a call if you need help finding the right loan and the right condo!
0 votes
Stephen McKee, Agent, Riverside, CA
Wed Nov 16, 2011
The mello roos in this complex are the highest of all the condos in MoVal because they have a lower HOA. They are over $3000 a year on top of your state tax base. However this is the best condo tract in town by far. Last I checked it was impossible to get a loan in this complex because of the owner to non owner ration and an insolvent HOA. Hope you have cash.
0 votes
Brad Yzermans, Mortgage Broker Or Lender, Murrieta, CA
Wed Nov 16, 2011
You can check with the Riverside county tax assessor, ask a title agent for the tax info, ask your agent or your loan officer and they should all have access to this info.

Many buyers are using down payment assistance and allow them to keep their down payment money in their bank for safe keeping and maintain their emergency fund.....you should check out your options in the link below.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more