Should I pay my property taxes.....

[BudgetCutsinOC]

I do not have an ecsrow account so I pay everything on my own (ie. property tax and Insurance)

I am 3 months behind, bought my house in 2004 for 370,000 now worth 190,000.

My goal would be to get a loan modification and stay in my house. But I am sure most of you guys know that I have not had any luck!

So my question is, should I pay my property taxes in December even though I have not received a loan moan and am 3 months late??????

What are the penalties/consequences for not making my proprty tax payment. Will I be treated differently because I do not have an escrow account?????


Thanks!! F CHASE !!

[nativelasvegan]

I am not paying mine. I can't. We do not have the funds to do so. Here is a link to another thread started by someone with the same question. Property tax, pay or not?

[booggs28]

Originally Posted by BudgetCutsinOC

I do not have an ecsrow account so I pay everything on my own (ie. property tax and Insurance)

I am 3 months behind, bought my house in 2004 for 370,000 now worth 190,000.

My goal would be to get a loan modification and stay in my house. But I am sure most of you guys know that I have not had any luck!

So my question is, should I pay my property taxes in December even though I have not received a loan moan and am 3 months late??????

What are the penalties/consequences for not making my proprty tax payment. Will I be treated differently because I do not have an escrow account?????


Thanks!! F CHASE !!

Do you still have time to file a reduction in asset value? If your house is now worth less, then it would stand to reason that you may be able to get the property tax reduced and still make the payment regardless of whether you have gotten in a loan modification yet - That would be one less payment and worry that you would have at this time.

[BudgetCutsinOC]

I did get my property tax reduced.. It used to be 2400 every 6 months,,,, now only 1800....... but I dont want to waste 1800 on a bet that I MAY get a remod!! Is the bank responsible to pay this if I foreclose??? What is the worst that can happen.

are property taxes non-recourse?

[MHAP76]

Bank will pay insurance and tax if you don’t pay them.

[booggs28]

Originally Posted by BudgetCutsinOC

I did get my property tax reduced.. It used to be 2400 every 6 months,,,, now only 1800....... but I dont want to waste 1800 on a bet that I MAY get a remod!! Is the bank responsible to pay this if I foreclose??? What is the worst that can happen.

are property taxes non-recourse?

until your name is no longer on the home you are responsible for the property taxes - the worst that could happen is it's sold at tax sale for unpaid taxes -

[exhausted girlfriend]

We have not paid our sales taxes in 2 years. The bank will pay it. We arent paying till we know if we will actually have a home. Otherwise, it is money down the drain. They have paid for the last 2 years. our taxes werent escrowed but they will be when the modification is completed. We do pay our own insurance because the banks cost 3 times as much and does not cover your personal property or injuries.

[litehouse01]

The bank (chase) went ahead and paid mine in August a month before it was due. I originally did not have an escrow account...but I understand it is a requirement of the HAMP program. I wonder why they didn't just go ahead and pay yours? The problem is if you don't pay them you could have an issue with your state or county whom ever collects your taxes..here in Maryland if you don't pay whats due in December they publish your name and address and arrearage in the newspaper and the date is set to sell the property for taxes on the couthouse steps...Here in my state they don't let it go unpaid more than a few months...find out how its handled in your state or county and then go from there........

[briknope]

I think that at least here in Arizona you have to have ALOT of equity at loan origination to have the option to not have taxes escrowed. How much equity did you folks have to be able to pay taxes on your own?

[BudgetCutsinOC]

Its funny I was always asked " do you want a escrow account" I always opted out. That way I can keep track of changes of taxes and Insurance. I have had 2 loans in 6 years and never had an escrow account.