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My house has recently been placed on the market. I have never been late on a payment for my mortgage and I could refinance but, I am also going through a divorce. I would rather sell the house and try to get out from underneath it. I just received a notice from the Town that a Tax Lien is going to be placed on my property on May 1st. How is this going to affect me and the sale of my home?
I was answering a question about tax liens, certificates/deeds, and considering that I’ve never taken out a mortgage, it’s a little blank spot in my knowledge.
Is this possible or not. Where in the Unites States is this possible, and whats the procedure.
And is the delinquent homeowner still liable for his/her mortgage?
I do not think the developer wants this condo so I don’t think he will pay the interest. He probably has a mortgage on it. Will I owe his mortgage when I eventually move in?
I live in a tax lien state. I would like to live and own this condo as cheaply as possible.
I am willing to wait a few years to live in this lovely complex.
I rent now.
If the owner of the property does not repay the taxes in the specified time frame, and you have to foreclose, I assume you must also pay the mortgage. Is this correct?
do i have to pay a mortgage when i buy this? how do u make money on this type of properties?
Lets say the owner cannot pay the mortgage and house goes on foreclosure and there is a tax lien on the property. The property is worth less than what is owed, no equity. What happens to the tax lien?
You mean the person that purchases the home is the one paying for the pending lien?
After winning the tax lien auction and paying the promised amount + misc fees, what other financial obligation does property Tax lien investors have during the 1 year redemption period if there is an outstanding mortgage on the property?
My husband and I own a house with no mortgage. Let's say the house is worth 200K and there are 2 years arrears taxes. I don't want to lose the house before divorce is settled, and since he does not respond to summonses (EVER) the divorce may drag on. Also, the house needs septic system, sliding glass door, (broken) and about 2K worth of other repairs. House has been uninhabited for over a year.
1) If I pay taxes and can show proof I did, or if I let the Tax assessor's office know I paid them and get a receipt for taxes in only my name, could I place a lien on my own house against ex's half and when the house is finally sold, get his half credited to me?
2) Can I pay taxes and repairs, possibly put a lien on it, or not, but RENT the house out while awaiting the outcome of divorce? House cannot be rented in current state. If I did pay tax and repair bill, I could make that back in a year though the renting of the house.
3) Would it be possible for a relative of mine to lien the house and be repaid at sale of house in future? If so, could the relative lien for the full value of the house so we can invest the equity in the house in other avenues while awaiting outcome of divorce?
-I want to put the money to use right now instead of it sitting in abandoned house, and taking the possibility of losing house to Tax foreclosure in the next year or two. Would be nice to rent the house itself or else use its equity to purchase a different rental property in this buyer's market, right? Also it would be nice to know if I did pay the tax the credit from that won't go to him if house is split at divorce.
It's not that I "feel entitled" to anything here, aside from the fact that I am raising his 3 children and he has not paid any child support except what judges have taken from his accounts. He is "self employed" so there is no paycheck to go after. it takes a year to get anything after filing violation, petitions and notices etc. i have gotten two child support payments so far: lump sum 1/09 for all of 2008, and lump in 1/09 for all of 07. There should be some source of income for his children. I will see what the lawyer says, just figured Id see if anyone had any experience with this. Thanks guys!
My fiance and I have plenty of $ for a down payment on a house, but can not obtain a mortgage. A seller is offering financing @ 8%, and after 1/2 of it is paid (30k) he will give us a deed for trust. If we fall behind and don't pay for 30 days, he pockets all of the money we have invested and we're evicted. He has offered to pay taxes/insurance and just add it on to our principle.
He said that he has "been doing this all of his life". What do you think?
We would be dealing w/a real estate attorney as well (for the documents).
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