Tishomingo, OK · Member since 2015 · 2 posts · 0 votes
I am looking at making an offer on a vacant property (it is not currently listed for sale) however I see where Core Logic has been paying the taxes for several years and they are not the owner. Should I run and not offer the actual owner because of this? Would Core Logic be owed anything? I don’t know what they actually do but I see their name a lot where they pay property taxes.
I am looking at making an offer on a vacant property (it is not currently listed for sale) however I see where Core Logic has been paying the taxes for several years and they are not the owner. Should I run and not offer the actual owner because of this? Would Core Logic be owed anything? I don’t know what they actually do but I see their name a lot where they pay property taxes.
Core Logic provides various services to the mortgage industry. I don't work in the "asset protection" or "foreclosure" department, but it wouldn't surprise me at all if one of their services was keeping property taxes current on properties where the borrower isn't.
Once taxes are behind, they are considered ahead of mortgages in terms of who gets paid & when in the event of foreclosure. So there might be times where the rational choice for the lender is to keep the property taxes current. There are other times where you will encounter a 2nd position lien-holder (HELOC, etc) actually paying someone's first mortgage, since that's cheaper than the first mortgage lender foreclosing and completely wiping out the 2nd position lien-holder.
After seeing Core Logic pop up on some properties that I was researching via the county website, I too was wondering about their role in paying taxes. That was until I looked up my own house. My taxes are paid out of my mortgage escrow. Core logic is listed as the payer for my house, whereas Chase is my mortgage company. So I guess they assist mortgage companies with this transaction.
Did you ever figure out the way to proceed on This? I’m also interested in a vacant house taxes pairs by core logic … and I’m not what my next step would be … thank you in advance