If a house is in forclosure and their is a first and a second mortgage and back taxes?
If a foreclosure has a first and second mortgage and back taxes does the new owner have to pay the second and back taxes to accuire(own) the property?
Tagged with: back taxes • Foreclosure • second mortgage
Filed under: Second Mortgage Foreclosure
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Only the taxes need to be paid, the rest is the sellers bills. They have to have permission from the bank to short sell the property though (sell for less then is owed to everyone).
No.
Yes.
Yes, if you want the property.