Do Banks Pay Property Tax on Foreclosed Homes?
The answer: yes, yes, yes! Absolutely. In most state in the U.S., property tax trumps a mortgage, meaning that if the government is owed property taxes, it's first in line to be paid, ahead of a mortgage - even if the taxes are $1,000, and the mortgage is $100,000.
Date: Tue, 09 Mar 2010 08:29:50 -0600