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Updated over 15 years ago on . Most recent reply

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499
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Just Don
117
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499
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will lender foreclose because of late taxes?

Just Don
Posted

I have a close friend who I am trying to help,get info for.

They state that they are unable to pay there taxes right now. they are NOT escrowed and were to be paid as accrued.

Anyway they wonder IF lenders file foreclosure,or what is the process when lender is notified taxes are still unpaid??

Minimum time allowed to fix,,,max. time allowed for fix??

They state they are current on their payments but have slid from 1rst of month payment to end of month pay!!

Do lenders go after borrowers when they are half a year behind on taxes? or 1 whole year?? Or does it take a longer period to incur their wrath??

I said they didnt want lender to get wind of this because payments will escalate 3 fold. Once because they paid out funds,once to escrow for next year and another to cure shortage of escrow balance!!

Thanks for ANY words of wisdom for them!!-d-

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User Stats

499
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Just Don
117
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499
Posts
Just Don
Replied

thanks for your quick reply Jon.

I was thinking there surely was a default clause of some sort built in for failure to pay taxes and or insurance??

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