make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

VOG

the foreclosure file made no reference as to the nature of the 5 year payments to the County. If not back property taxes, then what would they be?

If I am familiar with banking law, and I think I am, the mortgage holder, unless a private lender and not a bank or savings and loan, will be required to foreclose. They really will not have much option.

And of course, that will wipe out the interest of the 3 individuals holding the second mortgage. Unless they step in and pay off the first.

So, in the not too forseebale future, it is possible the parcel of overpriced and toxic real estate will be on the market for sale as an REO.

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.