If he inherits a multi-million dollar home in a posh sub-division and can not afford to pay HOA and property taxes. Will he loose his home?
2006-08-21 04:05:18 · 5 answers · asked by enlight100 3 in Politics & Government ➔ Law & Ethics
You will lose the property eventually to a sale for the back taxes.
You could sell the house now, however, if it is not affordable to keep for maintenance and taxes costs. You could also get a mortgage (if there is equity in the home), pay the taxes and sell...paying off everything and pocketing some cash.
2006-08-21 04:13:10 · answer #1 · answered by kingstubborn 6 · 1⤊ 0⤋
in accordance to which state you stay in you could have countless years formerly something takes position. flow on your community resources tax workplace and get the regulations as they're set down in black and white. also, locate out if there is any assistance available for worry situations? some states are a touch extra tax pleasant than others; and may actually help you stay on your position really of getting to grant you with loose housing and utilities and each little thing.
2016-11-30 22:37:50 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Yes, but you can get a loan to pay the taxes until you can sell the house, using the house as collateral.
2006-08-21 04:16:00 · answer #3 · answered by jackie 6 · 1⤊ 0⤋
No, it is called selling it & downsizing. If you can not afford taxes, they come yearly, then HOA, repairs & etc. will be hard to pay too!
2006-08-21 04:11:42 · answer #4 · answered by Wolfpacker 6 · 0⤊ 0⤋
Yes, you can for the back taxes
2006-08-21 04:10:35 · answer #5 · answered by Anonymous · 1⤊ 0⤋