yes....
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
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.
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.
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.
Yes, depending on the state, a home can be sold for unpaid property taxes.
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.
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
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.
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.
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.
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.
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.
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.
Property taxes in pennsylvania is 20% of your home value
Till the cops evict you.
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.
kenny brewer