Foreclosure and taxes info needed

[Gadestroyer74]

I have a good friend that is going to be headed into foreclosure and bankruptcy. The questions is do they have to pay this years current property taxes ? They aren't sure if the county would come after them or who ever takes over the home will have to pay it. Thanks

 

[Gaducker]

At this point it really dont matter, there gona be on the hook for more than they can ever pay so whats another thousand matter. And after its all said and done there slate will be clean of what remaining balance there was left over after the bank sales it.

 

[kevozz]

Don't bother with paying the taxes at this point. The bank will take care of the taxes or lien if it comes to that point. Make sure they bring this point up to their lawyer though so it can be listed in the court records if needed.

 

[Gadestroyer74]

thank you any info will deff be past along to help them out..

 

[alaustin1865]

thank you any info will deff be past along to help them out..

What is the reason for foreclosure and bankruptcy? If it is their primary residence, there are a lot of programs out there to keep people in their primary residence. It also depends on what type of bankruptcy as to how to proceed.

 

[Gadestroyer74]

i try to not to pry in folks business.. i believe there is a lien and they have went through alot of hospital stuff and no work.. i believe they are going to have to let everything go.. so i think full bankruptcy will be in order for them

 

[alaustin1865]

i try to not to pry in folks business.. i believe there is a lien and they have went through alot of hospital stuff and no work.. i believe they are going to have to let everything go.. so i think full bankruptcy will be in order for them

That sounds like chapter 7. Sounds like he needs to talk to an attorney, but that is expensive too. There are also certain filings that will allow you to pick and choose which debts to keep, but that will be up to your plan, filing and be subject to what the trustee has to say.

 

[Gadestroyer74]

Thank you for your help. I will pass this along to them