Archive for August 31st, 2009
August 31st, 2009 | 
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im2363 asked:
A friend of mine has paid real estate taxes religiously and ontime on his house for years via escrow, until this year, when he ran on hard times. The last date for payment and interest due for this year is fast approaching, and they mentioned that if it’s not received by that date, it will go into “tax sale”. As I understand it, he will NOT lose his house….his taxes will be sold to a bidder (not sure of the process), and he will then owe the bidder the past due amount AND an additional percentage of interest to the winning bidder…and would then have “x” amount of time to pay that off.
A friend of mine has paid real estate taxes religiously and ontime on his house for years via escrow, until this year, when he ran on hard times. The last date for payment and interest due for this year is fast approaching, and they mentioned that if it’s not received by that date, it will go into “tax sale”. As I understand it, he will NOT lose his house….his taxes will be sold to a bidder (not sure of the process), and he will then owe the bidder the past due amount AND an additional percentage of interest to the winning bidder…and would then have “x” amount of time to pay that off.
Am I correct about all of this? He will NOT lose his house?
Thanks!
Willie Staab
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