Foreclosure in 55303>Question Details

Nancy Masters, Home Owner in 55303

I have a home in foreclosure in Minnesota. If I don't pay the Property Taxes how long until I lose my home?

Asked by Nancy Masters, 55303 Fri Apr 22, 2011

Help the community by answering this question:

Answers

10
BEST ANSWER
The bank will take your MN house long before Anoka County will. It could take 5-7 years for the county to actually take your home.
2 votes Thank Flag Link Fri Apr 22, 2011
I think Eli gave you the best answer...

Have you tried to do a short sale to keep your property out of foreclosure? Have you even spoken to the bank about what options you may have?

You really need to know what your options are before you just give up and walk away. If you have already explored these, then good luck. As was stated below, the home will probably finish the foreclosure process before the county worries about back taxes. But if there is a possibility of doing a short sale, refinance, restructured mortgage, etc, then pay the taxes and work with your bank on the loan.

Visit this link to find out a brief overview of your options as a homeowner: http://brianrayl.com/short-sale-and-foreclosure-information/

Best of luck!

It's more than real estate. It's RAYL-Estate!

Brian Rayl, REALTOR®, e-PRO, SFR
Keller Williams Elite Park Cities
972-949-4222
Brian@Rayl-Estate.com
http://BrianRayl.com
Web Reference: http://brianrayl.com
1 vote Thank Flag Link Sat Apr 23, 2011
You can do a short sale and keep foreclosure off your credit. We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
1 vote Thank Flag Link Fri Apr 22, 2011
I have a program that will keep you in your home. Smart Lease Back.
We buy your home and you sign a 3 year lease at 60% of your current payment.
At the end of 3 years you have the first right of refusal to buy your home back at 90% of current market value.
No application fee. You only pay a deposit for the lease at closing.
0 votes Thank Flag Link Tue Sep 13, 2011
Are you saying the sheriff sale already happened? Either way it does not matter because everyone is right the lender will pay the property taxes.

I work in Anoka County and can help you out if that is what you're seeking. Even if it is just finding somewhere to rent with bad credit I can help that too.

Check out my website devoted to helping homeowners just like you.

Chris
651-307-7663
chris.block@dhbuyers.com
0 votes Thank Flag Link Tue Apr 26, 2011
Hi Maotuk,

Good answers below. If you are in foreclosure the lien holder (bank) is paying the property tax. They never want to be in second place in a lien situation.

Have you explored all other options? Short sale? Deed in lieu of foreclosure? These may be hard times for you but with a little perserverance you may be able to change the outcome.
0 votes Thank Flag Link Mon Apr 25, 2011
No professional can render an opinion the bank will provide time lines regards foreclosure

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Fri Apr 22, 2011
I would really recommend that you contact an attorney or tax professional. The laws change so quickly around this topic it would ashame for you to not be 100% on this! Best wishes.
0 votes Thank Flag Link Fri Apr 22, 2011
What will probably happen is the lender that has foreclosed on your home will pay the property taxes even when the property is still in the redemption phase.

Counties take years to claim properties due to unpaid taxes. Once the bank takes possession of the house and if they haven't already done so, they will pay the back taxes.
0 votes Thank Flag Link Fri Apr 22, 2011
Agreed, the county takes years before they pursue property for delinquent taxes.
0 votes Thank Flag Link Fri Apr 22, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Home > Minnesota > Anoka County > Anoka > 55303 > Foreclosure in 55303 > Question
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer