Your mortgage requires you to keep the property insured at all times and to pay your taxes.
If you do not pay the escrow portion of your monthly payment, you could lose your property to tax sale or your property could be uninsured.
SPS may, but is not obligated to, pay the amounts out of our operating funds, on your behalf.
If we do, you will be in default and we may charge interest on these amounts at your Note rate.