How do you know if a property is foreclosed on?

Question

How do I know if my deceased father's property is being or has been foreclosed on? And what happens if he owed taxes on it and the taxes were more than the value of the house? Does the mortgage company take the house back and sell it? Does the IRS take the taxes from the mortgage company? Or does the mortgage company do anything at all since the taxes owed are more than the property is worth?

Answer 1

If your father is deceased, there should have been a probate after his death to determine how his estate was to be divided unless he had a living trust or some other method to determine how his property was to be divided.

If that has not been done you should do this immediately.

You may find out if the property has been foreclosed on by contacting the county court in which the property is located to see if someone has filed a "Notice of Default/Foreclosure against the property.

As for the property taxes you may also contact the county court to see if any back taxes are owed.  

Normally the mortgage company would insure that the taxes are paid to protect their interest in the property. If the taxes and insurance is included in the mortgage monthly payment then the mortgage company would pay the taxes and insurance.

If there is a mortgage on the property who is making the mortgage payments each month?



If the taxes are not paid the county would sell the property for back taxes. In this case the tax assessor would not notify anyone, except post a notice with the county recorder's office.

I hope this has been of some use to you, good luck.

'FIGHT ON"