property tax

ksndi362636 · Joined: 16 May 2006 Posts: 7 2.37 Dollars($)

what happens when you go into foreclosure to the property tax if you were escowing them? once you defaulted and stopped making any mortgage payments, are you going to owe them, and is it everyone who is on the title or only the peson who is on the mortgage?

Guest 0.10 Dollars($)

Hi, Ksndi

Foreclosure is a legal process through which a lender can repossesses the property when the borrower fails to make the mortgage payments or when he declares himself default.

So, once you are not paying the mortgage so your lenders will put your property into foreclosure to recover his money. Once it goes into it, the dues also gets off from you.

Guest 0.10 Dollars($)

Hi,

If the house is already going to be foreclosed, then the lender will get all the default payments including the property taxes from the sale proceeds obtained through foreclosure. So you need not pay any more.

Thanks

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