If I filed Chapter 13 and gave up a second home, what happens if the real estate taxes are not now being paid?
Question Details: It has been 2 1/2 years since I filed and I still have 2 1/2 years to go. The home is still in my name and the mortgage company is not paying the property taxes which are in my name. Will the non payment of taxes go against me? Is there a way to get the home if mortage company doesn't want it? And finally, do I have to carry insurance if it is still in my name?
The property taxes are a lien on the home that you have and if not paid you can lose the home due to a tax sale by the county tax assessor. If you want to keep the home you need to carry insurance on it of you are still servicing the mortgage. Failure to do so can result in a default under the mortgage.
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