Updated over 17 years ago on . Most recent reply
Liens
When going after a REO is it safe to assume the title is clean? Most things are cleared at the foreclosure, like 2nd mortgage and other liens except taxes. Does that mean back taxes are you responsibility or do the banks pay it when they take possession? What about during the banks possession? Most around here are up 6+ months are the taxes paid by the bank?
Why I am curious is I work in Property Management and you can get an assessment out of the bank if your life depended on it and it seems like the bank only pays what is absolutely necessary, lawn mowing and electric.
Sorry if this is noobish question, but the liens and tax responsibilities are the most confusing for me.