[Alan Bercovitz]

Yes Alex as you say it is a loaded question because it depends on how past due the taxes are and which Agency the loan is being put through.  It’s also loaded because some underwriters handle it one way, some another.  And one person calls FHA and gets one answer, someone else calls and gets a different answer.

For example, most folks say as you did that for FHA a plan needs 3 on time payments (not prepaid).  Others say that FHA only requires the 3 payments if the past due taxes have become a tax lien (I went back through the 4000.1pretty carefully yesterday and to my reading the language isn’t clear if the taxes are not yet a lien).

Anyway what’s most important is that consumers are carefully questioned about their situation by an experienced, thorough loan officer who knows how their underwriters handle each scenario and I know that’s a strength of your company.