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Updated 4 months ago on . Most recent reply

Leah A.'s profile image
Leah A.'s profile image
Leah A.
  • Member since Jan 19, 2024
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Leah A.'s profile image
Leah A.'s profile image
Leah A.
  • Member since Jan 19, 2024
Connect
Leah A.
6
Votes |
7
Posts
General Real Estate Investing

Condemning a house

Leah A.
Posted

Does anyone know what happens when a house is condemned when the owner holds a mortgage on it? I read that the government (village in this case) takes ownership and pays fair market value to the owner. Is that still accurate when there is a mortgage? Or is it worse and the tear down cost would be tacked onto the owner's property tax bill? Appreciate any insight. 

Milwaukee, Wisconsin
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