 lorirobbins210
Joined: 13 Jul 2009
Posts: 2
1.00 Dollars($)
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Posted: Mon Jul 13, 2009 1:56 pm Post subject: If I file for a DIL, will I have to pay a penalty? And do I
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If I file for a DIL, will I have to pay a penalty? And do I get back my propert tax held in escrow...purchased a condo with upgrades 2 yrs ago @127,500 and thus far never missed a payment. I owe about $124,000. When I purchased the condo, it was initially an investment and I planned to retire in 2-3 yrs, sell and move south because of continued health issues. The broker's good faith estimate reflects the property taxes @ about $50.00/mo. & condo assoc dues $100.00. The property taxes held in escrow now have soared to $298.00 + due are 151.00.
My hourly salary 2 yrs ago included 50-55 hrs ot. Now we have been cut to 40-45 hrs. I can't continue to pay the mortgage, plus the rest of the taxes, dues, PMI's, etc. At the end of the year, I will only have my SS and little 401K to live on if we downsize and I get cut back to Part time or no job at all. A realtor said for me to consult a lawyer before I proceed to act as my mediator. I want to know what happens to the property taxes held in escrow; will I get them back? How long from the time I fill out the request for the DIL to I have to move out. I live in Illinois. and what can I penalized with? The unit is worth $122K+. Can't afford to put it on the market. |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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