Ride thru and back taxes

[bellessima]

I was discharged on a Ch 7 and did a ride thru with my current home.
I have not paid the back taxes. What can happen here?
Thank you

[justbroke]

Several things can happen. What will likely happen is that the Tax Collector will contact the lender and the lender will then pay the taxes, escrow the taxes, and then you'll have a HUGE increase in your monthly mortgage payment for the next 12 months or so. (The huge monthly payment increase is to recover the current taxes and then to create an escrow fund and catchup on the shortage.)

Or, the Tax Collector never notifies the lender and then sells a tax certificate or tax deed for the property. Then if it's not redeemed in so much time, then a foreclosure may take place anyhow. Whether your State does tax certificates or just sells properties for past due taxes is unknown but it does vary amongst the States.

[tcreegan]

Hi bellessima,

I would contact whoever collects real estate taxes in your state (usually the county recorder/clerk) and make arrangements to pay off the taxes. They might have programs for people to get caught up w/o breaking the bank. Definitely something to be proactive about if you plan to stay and pay.

Hope it works out well for you,

Tom in Colo