My HOA forced a sherrif's sale of my home and a buyer purchased it for $10,000. The home is worth around $350,000 and that is the amount of my current loan. Who is responsible for the loan and any real estate taxes that are in arrears?
Answer
The new owner. If he does not pay either, the government or the lender can foreclose.
Answer
I agree. About the only impact on you might be some additional credit-rating problems.
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