Posted by JohnBoy on January 23, 2002 at 15:21:44:
This guy needs another attorney! He needs one that is well versed in real estate.
WHY would he file BK over taxes owed that his lender screwed up on???
If his taxes and insurance were included with the loan payments and the lender has failed to pay the taxes then it’s the lender that is going to have problems.
First of all, the tax bill would be sold, then after the cure date the party who purchased the tax certificate could foreclose on the property. If they foreclose the lender’s mortgage would be wiped out in the foreclosure. The lender will have to be properly notified of the foreclosure which gives the lender the chance to pay the tax bill to protect their mortgage secured against the property. Which means if the lender gets notified and this doesn’t fall through any cracks within the mortgage companys involved, the lender WILL pay the tax bill just to protect their interest.
If this did fall through the cracks and the house ended up being foreclosed on because the lender messed up, I would venture to guess the buyer would have grounds for one heck of a lawsuit against the lender!
This guy needs another attorney that knows what they’re doing! The one he has obviously doesn’t have a clue! Sounds as if this attorney is more of a BK attorney that stands to make a fast buck off collecting a fee for filing BK. You gotta watch those clowns! Get another attorney that specializes in real estate law!