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Property Taxes
I need to know if I have to pay the property taxes for my mobile home that is currently in a Mobile Home Community ? The tenants walked out and I have not been able to keep up with the mortgage. I had no recourse but to walk away from it. I believe it is in repossession. I have no money to pay the taxes. What will happen ?
Worried and penniless!! |
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Do you own the land ? If it is in a mobile home park is it not the personal property tax on the mobile home?? Not property tax, ( property tax is on land and homes on the land, most mobile homes are considered personal property.
But if you just walk away, the home will be repo'ed, sold, bils paid from the money they get. Then all the money that is still owed, they will come after you to pay. You needed to sell it long before it would repo. For example, if you owe 10,000 now, after they repo, most likely there will be several thousand in repo and legal fees. So when the home sells at auction for a few thousand, you end up still oweing the 10,000 or more. |
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Walking away is not the right answer. All that accomplishes is allowing the company you borrowed from to get whatever they can for the home and then come after you for the balance.
You need to find out exactly what is happening with the home and what your obligations and responsibilities are. |
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