I will be surrendering a house through Chap 13 in March - The last mortgage payment was made last month. The county real estate tax will be paid out of escrow in June and December of 2012. Since I will be 4 months late on the mortgage by next March, I don't know how fast the lender will move on requesting a stay and subsequently foreclosing but I'm guessing that I will be liable for real estate tax and keeping the property insured until the deed is actually transferred. VA is a non-judicial state BTW. The house is in high-cost Northern VA. The property tax is approx. 6K. Does anyone in VA in Chap 13 have experience with a similar situation? Thanks, all.
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Stopped CC payments May 2010. Stopped mortgage payments Oct 2011. Filed 13 Oct 2011, Plan confirmed July 2012. Trustee required surrender of second home. Foreclosure sale completed May 2013. Now almost 2 yrs into the 5 yr plan payments -
Generally the mortgage servicer is required to make the property tax payments and insurance, whether you're paying the mortgage or not.
They get first dibs on the foreclosure proceeds to make good these costs.filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!
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