How will late property payment or default on property tax impact the application? I am negotiating a short sale with my lenders and stop paying property tax payment is one of the ways to convince banks as they might lose the property to a tax lien. You advice is appreciated.
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Property tax and Citizenship
- Thread starter jdzhao_il
- Start date
How will late property payment or default on property tax impact the application? I am negotiating a short sale with my lenders and stop paying property tax payment is one of the ways to convince banks as they might lose the property to a tax lien. You advice is appreciated.
Don't worry about this. In theory, I believe a lot of peopple here failed to
file local taxes at least once. When you lived in anapartment, you ususllay do not get a tax bill frokm local tax collector. Use your common sense to imagine
how many would really answer Yes to the question:"Have you failed to file a fedearl, state or LOCAL tax return?"
Let me try to understand your answer. So you are saying I just need to say "I don't owe any taxes" just like people say they never missed a tax file?
I do live in a house and I imagine Property Tax is different from personal income taxes?
Make a personal decision for yoruself.
NovaCitizen
Registered Users (C)
i recently did a short sale on my house -- even i was late on everything for more than 6 months -- when I did the closing, bank first paid the taxes and fees and will take the remaining money -- so u don't owe anything after short sale is done --
NovaCitizen, thanks for responding, can you share a little more about your experience? My understanding is that bank doesn't want the tax lien to happen and pay the taxes to keep the title, is that right? Did the county clerk do anything such as trying to do a tax lien? Which state did you do this in if you don't mind?
What were your tactics negotiating with the banks? I still have one job out of me and my wife, and I am worried that they will come after me for the debt that I owe. How diligent are they checking your financials, income, assets... etc. Your advice is greatly appreciated.
Also, if the bank pays the tax, are we off the hook? Am I going to have a record for not paying property tax? This also impacts my wife's application. Buying the house is the most stupid thing I ever did.
What were your tactics negotiating with the banks? I still have one job out of me and my wife, and I am worried that they will come after me for the debt that I owe. How diligent are they checking your financials, income, assets... etc. Your advice is greatly appreciated.
Also, if the bank pays the tax, are we off the hook? Am I going to have a record for not paying property tax? This also impacts my wife's application. Buying the house is the most stupid thing I ever did.
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Jackolantern
Registered Users (C)
Not necessarily. Depends on state law, and how much the bank can recover from the sale.Also, if the bank pays the tax, are we off the hook?