coxta
Ultramundane
Premium
join:2000-07-15
LALALALALALA
 ·Pacific Bell - SBC
| reply to 81399672
Re: How many tax defaults can u have before u lose your house?
In California the homeowner can pay the taxes, or if they have PMI (private mortgage insurance), whomever holds the insurance pays the taxes, since they are collected monthly from the homeowner. It's not unheard of for the insurance company to neglect to pay property taxes. The homeowner should always follow up.
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cum hoc ergo propter hoc |
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81399672
Premium
join:2006-05-17
Los Angeles, CA | pmi has nothing to do witn property tax |
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drslash
Goya Asma
Premium
join:2002-02-18
Marion, IA
| True. But as part of the agreements or PMI contract the money to pay the taxes are put in escrow monthly. The mortgage company or insurance company then disperses the escrowed money to the taxing authority.
As far as your original question, I would guess that in California that your neighbor has more time to get caught up on the taxes. In my state, the house can go to a tax sale after 4 or 5 months of delinquency.
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Save water...drink beer! |
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Stiofan
join:2000-08-21
Post Falls, ID | Insurance companies don't pay for anyone's taxes and never have.
If you have an escrow account, the money is collected along with your mortgage payment and insurance payment by the mortgagee and they pay all the bills. |
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