If Property Owners Fail to Pay Their Taxes in a Timely

Multiple Choice

If property owners fail to pay their taxes in a timely fashion, this can create a first lien on the mortgaged property. In order to protect against this, lenders often require that borrowers add what fraction of their estimated tax bill to their required monthly mortgage payments?

A) 1/12
B) 1/6
C) 1/4
D) 1/2