Foreclosed Tax Properties
January 18th, 2009
Foreclosed Tax Properties
Question: can wages be garnished for overdue property taxes of a foreclosed home?
I have a friend being harrassed by collectors. Home foreclosed over 1 yr ago in CA. No longer the owner. Collectors state her wages may be garnished if past property taxes are not paid. Is this possible? Don't banks inherit all outstanding debts associated with home? How to protect oneself?
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Answer: No. Real estate property tax is due from the property not the owner. The foreclosed mortgage contract may provide that the mortgage company can include unpaid property tax as part of any deficiency in the foreclosure. This creates a subtle difference between "unpaid property tax" and "part of the deficiency attributable to unpaid property tax."
Loan Modification, Short Sale, Foreclosure, Tax & Legal Ramification - Free Workshop: Don Jessup
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