Simi Valley, CA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question."I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max."
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the answer to Paul's Question: In most cases your lender will pay those property taxes.
Property taxes are a first priority lien on a property. That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason.
This is also why most lenders want to charge you monthly and then pay the property taxes themselves. They know that the taxes are a big bill that only comes once a year.
Not everyone can afford that big bill. Because your lender knows they will still have to pay the taxes after a foreclosure, they are willing to pay them during a short sale. A foreclosure is a liquidation of the property to simply get what they can and move on.
A short sale has been proven to net them more money than a foreclosure. So if they are liquidating the property, why net more money from the sale with a short sale and avoid a foreclosure?
That’s why they will pay the taxes when you short sale. Every short sale the Stop Foreclosure Institute has sold resulted in the lender paying the property taxes that were owed.
In some cases they paid 2-3 years of property taxes.
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.com.
I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have.
Or, if you prefer, you can call me at 805-208-0823
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Simi Valley loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this,
Chris B Johnson.
Chris is a Real Estate Agent at Prudential California Realty,
Phone: 805-208-0823.
cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris Johnson specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Moorpark CA Short Sales. Moorpark Realtor. Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice Chris B Johnson, Prudential California Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are Chris's personal views and do not reflect the views of Prudential California Realty, This information on Will I Still Have To Pay Property Taxes If I Do A Simi Valley Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.
Is it too late to Short Sell my HOME?? Prior to 2007, short sales were NOT very appealing to home owners in hardship due to the fact that the borrower could be liable to pay taxes on any money forgiven by their lender. The Mortgage Forgiveness Debt Relief Act came to be law on December 20th, 2007. This important act was great news and gave most home owners in hardship the chance to sell their property as a short sale, and NOT be have to pay income taxes on the money forgiven them by their lender.
The BAD News is, this act expired at the end of 2013. The GOOD NEWS is the IRS and the California State FTB have extended the benefits of the Mortgage Forgiveness Debt Relief Act!!
Get your Free Report for All Your Options HERE: Is Time Running Out?
I am part of a nationwide network of over 11,000 short sale specialists who offer no cost help to home owners in financial hardship. If you have any friends or family who may be a good candidate for a short sale, please forward this news to them. Visit Your Moorpark Short Sale Specialist for more information about short sales and options that may be available to you.
Chris B Johnson Realtor Is Your Ventura County Certified Short Sale Specialist. Loan Modification Denied? HARP re-fi denied? Want to avoid foreclosure?
I can help discover all your options so you can make an informed decision. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Moorpark Loan Modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
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