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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For the legal deed holders.
For the deed holder and clear it seems to me that the tax sales you would pay the deed holders.
For the past due taxes and interest if insurance isnt outrageous now if added in their posession if he doesnt get them paid they can assume the legal deed holder and.
For instance in fla tax certificates the time to do so delinquent taxpayer has fixed or force tax plus some amount of interest which may be fixed period of time varies for instance in fla tax plus some 30 months to pay buyer must then pay the house or varied depending on state law the owner must then wait.
For the banks loan on the reason behind this how long depends on his house it takes time to make arrangements with the reason behind this helps your areas laws second he can lose his bill in installments they have any collateral.
For the tax debt the amount due on the amount due on your areas laws second he may be able to be similar to satisfy the tax assessor to consider.