Pay property taxes when 10 months behind?

[michigan tsunami]

Property taxes are due in a few weeks. I'm 10 months behind and supposedly approved for some kind of BA mod a month ago which I haven't seen yet. I have a Naca proposal that seems like ARE NOT getting approved anymore. I have money to pay taxes, but if I'm going to get thrown out eventually, I will need that money. Anyone have any suggestions?

[mgallant]

Originally Posted by michigan tsunami

Property taxes are due in a few weeks. I'm 10 months behind and supposedly approved for some kind of BA mod a month ago which I haven't seen yet. I have a Naca proposal that seems like ARE NOT getting approved anymore. I have money to pay taxes, but if I'm going to get thrown out eventually, I will need that money. Anyone have any suggestions?

The bank will pay the taxes for you to protect there investment. Your town will eventually put the home up for a tax sale if it is not paid and the bank knows this. Our bank paid our taxes and added it to our balance. The decision to pay or not has to be yours, but the bank will move to protect there interest even if your MOD does not get approved.

[michigan tsunami]

mgallant, any idea when the bank would pay them? Obviously they are hoping I will.

[florida1976]

They will pay it as soon as it is due. Just wait and see.
Keep checking the property tax payment site for update.

[ama125]

I believe they are legally obligated to pay those taxes in a timely manner. I would not fret over this. They are the ones who will be in trouble if they don't pay up.

[mgallant]

Originally Posted by ama125

I believe they are legally obligated to pay those taxes in a timely manner. I would not fret over this. They are the ones who will be in trouble if they don't pay up.

Our taxes were actually paid about 6 months after the due date and the home had already been slated to go into a tax sale. I actually worked out a payment plan with the town to keep it off the tax sale and then about a month later CW paid the full balance on the taxes due and added it to my total mortgage balance.

[florida1976]

Once they start paying it. they probably already establish an escrow account for your loan. They will continue paying it. This year it will be paid on time.

[michigan tsunami]

Taxes due in a few days. Mine are not escrowed. Still 10 months behind, no mod papers yet. What should I due? I may need my saved money for place to live. (worse case scenario)

[feellost]

My taxes were due in June and the bank has still not paid. The town notified me that they will sell the tax lien next month if they are not paid. I am also 10 months behind and hoping for a modification. There's no way I'll pay my half year of taxes (almost $6,000) unless I know I'm staying in the house.

[michigan tsunami]

Originally Posted by feellost

My taxes were due in June and the bank has still not paid. The town notified me that they will sell the tax lien next month if they are not paid. I am also 10 months behind and hoping for a modification. There's no way I'll pay my half year of taxes (almost $6,000) unless I know I'm staying in the house.

My thoughts exactly. Did you notify the bank that you weren't paying them in advance?

[Edteach]

I called the CW tax dept during my mod process and told them the taxes were due and how I had a 30 day notice from the county. The lady put me on hold and called the county, got the details and sent the payment the following day. It was over 10k worth, and they eventually put the amount onto the principal.