Re: back taxes - Posted by James
Posted by James on August 09, 2007 at 08:17:14:
Stay in control and you will be fine. Should have checked taxes before you sandwich leased.
Anyway, talk with the lender - you should have got full authorization to do so up front.
In the event that something like this happened, what does your lease-option contract say about it?
In the event it says nothing…talk with the bank and see if they are willing to take smaller payments.
Explain to them that you would like to purchase the house (paying off mortgage) in six months and see if they will make taxes due at the end.
Also, if your lease-option agreements are good, then they probablly say something like your TBs can make everything alright too (not saying they have the cash to do so…).
It’s your show, do what it takes.