Mortgage FAQ

1. What do I do if I feel that the billed Property Tax amount is incorrect?

Contact your Parish/County Tax Assessor to discuss your Assessed Value, applicable Exemptions available and millage rate changes.

2. How do I file Homestead Exemption or Exemptions available to Veterans?

Contact your Parish/County Tax Assessor and they will be able to assist you with your request. Once applied, please email a copy of the revised tax amounts to [email protected].

3. I'm a veteran, why am I being billed property taxes?

Contact your Parish/County Tax Assessor and they will be able to determine if you are eligible for Veteran Exemptions.

4. How does Barksdale Federal Credit Union come up with the property tax amount to pay?

BFCU pays the amount billed by your taxing authorities, which may include Parish, County, City, School, Hospital, and Mud Taxes to name a few. Some members have multiple taxing authorities for their property.

5. My taxes are more than last year, how will this affect my payment?

Your Annual Escrow Analysis will take into account adjustments to your Property Taxes and Property Insurance bills. If you would like to discuss your escrow account in detail, please contact a Mortgage Servicing Representative at (318) 549-8170.

6. I do not have an escrow, why am I being asked to provide proof of payment of my property taxes?

It is a requirement of all mortgage loans to pay property taxes in a timely manner to prevent Tax Liens and Tax Sales. If you have received a notice requesting proof of payment, we were notified that your taxes were not paid and are now delinquent. Proof of payment can be emailed to [email protected], please notate you received a Tax Delinquency Letter in your email.

7. Do I need to submit a copy of my tax bill to Barksdale Federal Credit Union for payment?

We obtain the billed tax amounts directly from the taxing authorities. You may retain your bill for your records.

8. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

1. My property insurance is more than last year, how will this affect my payment?

Your Annual Escrow Analysis will take into account adjustments to your Property Taxes and Property Insurance bills. If you would like to discuss your escrow account in detail, please contact a Mortgage Servicing Representative at (318) 549-8170.

2. What is Barksdale Federal Credit Union's billing address for Escrowed Property Insurance bills?

Barksdale Federal Credit Union
ISAOA/ATIMA
P.O. Box 7348
Natchitoches, LA 71457

3. My loan is not escrowed, why am I being asked to provide proof of insurance?

It is a requirement of all mortgage loans to insure the property against loss. All loans are required to submit proof of coverage documentation annually. That documentation can be sent to:

Barksdale Federal Credit Union
ISAOA/ATIMA
P.O. Box 7348
Natchitoches, LA 71457

Or to [email protected]

4. I changed insurance policies, what do I need to do?

Please have your new information sent to the addresses below:

Barksdale Federal Credit Union
ISAOA/ATIMA
P.O. Box 7348
Natchitoches, LA 71457

Or to [email protected]. You will be responsible for cancelling previous insurance policies and returning any refunds to your escrow account. If you would like to discuss your escrow account in detail, please contact a Mortgage Servicing Representative at (318) 549-8170.

5. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

1. When are Mortgage Interest Statements/Form 1098 sent out?

They are mailed or e-delivered by January 31st each year.

2. When are Mortgage Interest Statements/Form 1098 sent out?

The primary borrower on the loan may access the Mortgage Interest Statement via Online Banking under Statements, Tax Statements.

3. My Mortgage Interest Statement/Form 1098 was not delivered by mail.

You may verify your statement delivery method via Online Banking. Navigate to the statement page, then enrollments to verify your current selection and make changes to your preferred delivery method.

4. My loan did not generate a Mortgage Interest Statement/Form 1098.

Mortgage Interest Statements/Form 1098 are generated on loans that received scheduled interest payments of $600 or more in the calendar year. If you believe you should have received a Mortgage Interest Statement, please contact a Mortgage Servicing Representative at (318) 549-8170.

5. Information on my Mortgage Interest Statement/Form 1098 seems incorrect.

Please refer to the back of the Mortgage Interest Statement for detailed information provided in each section. If the reported information differs from what is expected for those sections, please contact a Mortgage Servicing Representative at (318) 549-8170.

6. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

1. How can I obtain a copy of my Mortgage Statement?

The primary borrower on the loan may access the Mortgage Statement via Online Banking under Statements, Mortgage Statements. You may also obtain a copy by visiting your local Branch or contacting a Mortgage Servicing Representative at (318) 549-8170.

2. My Mortgage Statement was not delivered by mail.

You may verify your statement delivery method via Online Banking. Navigate to the statement page, then enrollments to verify your current selection and make changes to your preferred delivery method.

3. Information on my Mortgage Statement seems incorrect.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

4. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

1. How do I cancel the Private Mortgage Insurance on my loan?

If you have a Conventional Loan, please send a written request to [email protected] or please contact a Mortgage Servicing Representative at (318) 549-8170 for your account to be reviewed for eligibility.

FHA Loans are not eligible for member-initiated termination of Mortgage Insurance Premiums.

2. Can I order a new appraisal to cancel my Private Mortgage Insurance?

The loan must meet a minimum seasoning requirement of two years to be eligible. The appraisal must be ordered by Barksdale Federal Credit Union, to be paid for by the member. For more information, please contact a Mortgage Servicing Representative at (318) 549-8170.

3. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.

1. Can I waive my requirement to escrow for property tax and insurance premiums?

The loan must meet certain eligibility requirements. For more information, please contact a Mortgage Servicing Representative at (318) 549-8170.

2. How often does my escrow account recalculate my payment?

Escrow accounts are analyzed annually. Your Annual Escrow Analysis will take into account adjustments to your Property Taxes and Property Insurance bills to determine the funds needed over the next year. If you would like to discuss your escrow account in detail, please contact a Mortgage Servicing Representative at (318) 549-8170.

3. I received an Annual Escrow Analysis statement showing a Surplus, but I have not received a check.

Please contact a Mortgage Servicing Representative at (318) 549-8170 for assistance.

4. I received an Annual Escrow Analysis statement showing a Shortage. I would like to pay that upfront.

Please contact a Mortgage Servicing Representative at (318) 549-8170 for assistance.

5. My question is not listed.

Please contact a Mortgage Servicing Representative at (318) 549-8170.