Re: How Long Before Bank Pays My Delinquent Property Taxes
the bank, unless there is an escrow in place, often will not pay the property taxes until the state intends on taking the property for overdue taxes.
It is my understanding that the bank will pay these taxes at some point in order to protect their interest in the property. My question is - how long will the bank wait?
beyond that, a mortgage lender often has a first right of purchase in a tax sale. That would mean they would not simply pay the taxes but would be purchasing the property through a tax sale.
You generally don't get to set on your butt and refuse to pay taxes without at least a penalty but far more often, risk losing the property.
I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.