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prepaid tax on refinance

I am refinancing my home, this should close on Oct. 10 but I'm not comfortable with some figures on the HUD-1.  On line 1004 "property tax 4.0 months @ $219.18 per month (then there is an aggregate credit on line 1007 for $431.18 but I have no idea what that refers to).  On line 1305 there is an entry "taxes due at closing $657.47". My property taxes are paid quarterly, the next payment is due December 1st 2013.  Do those figures make sense or should I push for an explanation from the lender? 
  • October 05 2012 - Reno
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Answers (2)

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thanks so much!
  • October 05 2012
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It seems like they made it harder on themselves to explain then they had to.  Your taxes are due on or before your first payment.  That results in the line for $657.47.  The escrows could have then been set at 2 months of taxes which is a standard buffer we all use.  They instead escrowed for 4 which triggered the aggergate adj. to give you about 2 back.  In the end all basically the same.
  • October 05 2012
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