Remodel & Renovate in 46203>Question Details

Vldracer13, Other/Just Looking in Indianapolis, IN

Indianapolis Does improvements made by homeowner have to stay in bank repossed property?

Asked by Vldracer13, Indianapolis, IN Tue Jun 8, 2010

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Well, you asked this months ago, but it should stay with the property if it is something is affixed. If not affixed to the property, then you could remove it. Some people will tear up their home when they are losing it, but the ways the tax laws work now, if you tear up the home the bank will get less money for it and you will have to pay taxes on the difference between what the bank gets and what they gave you originally for the loan, so to vandalize your home when you lose it to foreclosure is only like shooting off your own foot, so to speak.
1 vote Thank Flag Link Fri Jan 4, 2013
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