I am just wondering if there is anyone out there that is in a simular situation....someone I love is having some financial problems right now...He got hurt at work a few years back and fell behind on bills...of course of this his credit is shot and he is behind on his house taxes...He is being threatened of loosing his house if he does not pay his back taxes but the trouble is he cant get a loan because of his credit history...Does anybody know any banks or anything out there that might be able to help him so he does not loose his house...feel free to send me a message if u have anymore questions regarding the situation...its tough to go into all the details...

girlswannahavefun08 girlswannahavefun08
41-45, F
5 Responses Feb 10, 2009

How was it he got a mortgage that didn't include an Impound Account to pay taxes & insurance?? Every lender I ever heard of requires one unles you have put 40 - 50% down on the purchase. My suggestion is to try & work with the Lender on some way to catch up the taxes. The Lender isn't likely to loose out over back taxes but by the same token they (Lender) are probably already saddled with all the forclosure properties they want right now. Go to the Lender & negotiate HARD with them.

ok this is a strange scenario because normally mortgage includes taxes.<br />
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he must catch up or after two years whomever bought his tax debtr can take ownership if he doesn't pay them and interest. but that can be state specific.<br />
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need to look at home equity loan , they can have looser restrictions, but won't loan with outstanding taxes due, but may can coordinate for pay off in loan.

Thanks the problems with that is it is for mortgages he owes back taxes on his house....

You're right PT, with the latest pressures from the bailout and President, they should be loosening up on the restrictions. <br />
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It might be the perfect time for him to get back on track.

tell him to talk to his mortgage company, they might be willing to help him. if he looses so do they.