Foreclosures Help Information

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Question: Buying a foreclosed home?

Hi all,
About a year ago, I bought a house that was foreclosed on, when thru my local bank and got a loan. The other day I got a letter from my bank saying that my mortgage payment would be going up $300 a month because my escrow account is in the negative.
When I called them and asked them why, they said something about my house taxes going up, which is a bunch of crap.
Anyway after further investigation it turns out that there was unpaid house taxes from the previous owners.
I thought that when buying a house from a realtor and going thru a bank that it suppose to be free and clear of any unpaid taxes, etc… This was never mentioned at the closing
I live in Mass.

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Answer: Due Diligence. You always must check for back taxes on any property. The bank does not have to disclose this info but you may have a claim with the title company who insured the transaction.

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