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Q: Do you still need to pay property taxes if home is foreclosed?
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Is the buyer of a foreclosure home responsible for any back taxes still owed?

As a technical legal rule, the answer is that the buyer of a foreclosure home is not personally liable for back taxes that remain owed. However, the back taxes may well still serve as a lien on the property that can be foreclosed by the taxing authority. In other words, the government cannot make you pay the taxes, but they can take the property from you if the taxes are not paid. As a result, the real world answer is that the buyer of a foreclosed home is responsible for any back taxes still owed. Before you purchase foreclosed property, it is always a good idea to check the tax records to see if any back taxes are still owed. If they are, plan on paying them off as soon as possible. Unfortunately the new owner will still be responsible for the taxes. My friend got what she thought was a great deal on a split level until she got a bill for six thousand dollars back taxes. She was unable to pay so she lost the house.


What happens if you do not pay your property taxes while getting ready to have house foreclosed?

You will no longer be responsible. The bank will have to worry about that after they foreclose your home.


Why is a foreclosed mobile home still on the property?

There are many reasons why a foreclosed mobile home might not be immediately removed from its location. Often this is pending a resale. If you do not want a home to remain on your property after losing it to foreclosure, you will have to legally notify the repossessing owner to remove it.


When a home is foreclosed on who is responsible for paying property taxes?

Well, if the bank has forclosed they are but can seek the monies from the new buyers. If you bought the tax certificate then you do.


Who satisfies liens on foreclosed property?

The person responsible for the liens must satisfy the liens. When a home is foreclosed on, the liens are removed before the next buyer purchases the home.


What is real estate taxes?

In Michigan if there is delinquent taxes on a home and property and an outsider pays the taxes do they take over title to the home and property.


Who pays real estate taxes on a reverse mortgage?

The owner of the home that still occupies the home and has the reverse mortgage is still responsible for maintaining the home and for paying the property taxes, and all other expenses in keeping the home in good condition.


Do you receive a 1099 if your home is foreclosed in Minnesota?

You will still receive a 1099 if the outstanding principal is lower than the FMV, then the difference is a gain. You will end up having to pay taxes on this.


how much are property taxes in pennsylvania?

Property taxes in pennsylvania is 20% of your home value


How long can you stay on your property if your home has been foreclosed in the state of Tennessee?

Till the cops evict you.


How do I know if I'm getting a fair price for a foreclosed home?

In order to determine whether or not the pricing of a foreclosed home is fair, you may want to consult a property lawyer. They will be able to find out how much the home is really worth.


If you buy a foreclosed home at auction do you owe any Pre-existing debt For example the unpaid taxes from the previous owners Or is the home yours and you just pay the taxes from there on out?

kenny brewer