FAQ

Yes. The state of Wisconsin offers various payment options, and you may change at any time. If you want any changes in your payment options to be reflected in the current year, make sure you are current on your loan payments and send us a written request before November 1.

Payment options:

  1. U.S. Bank will send a check payable to you and your taxing authority by December 20.
  2. U.S. Bank will pay property taxes by December 31, if the tax bill for your property by is received December 20.
  3. U.S. Bank will pay property taxes by January 31.
  4. U.S. Bank will pay the property taxes when due, based on installment due dates as defined by your taxing authority.

Send your payment option change request via fax or mail. Fax to 877-903-6972 or mail to:

U.S. Bank Home Mortgage
Attn: Tax Department
PO Box 21948
Eagan, MN 55121

There are a number of factors that could result in your escrow payment increasing or decreasing each year. If your new payment option results in taxes being paid earlier, you may have a shortage for one year in order to ensure you have enough funds in your escrow account to cover the tax disbursements during an earlier month.

Increases or decreases in the amount of tax or insurance you pay also have an impact on your escrow payment. U.S. Bank will analyze your account annually and provide you with an escrow analysis statement which details the changes to your escrow payment.

When you request the establishment of an escrow account, you can include your preferred payment option. If you do not provide a payment option, the default payment option will be to pay the property taxes by December 31, if we receive the tax reporting for your property by December 20.

The default payment option is to pay the property taxes by December 31, if we receive the tax reporting for your property by December 20.

If you are current on your mortgage payments, you can request for a change in the payment option.

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Disclosures

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.

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