2. IF YOU DON’T PAY YOUR PROPERTY TAX IN CALIFORNIA AND YOU’RE NOT CURRENT ON YOUR MORTGAGE AND ARE GOING THROUGH A SHORTSALE… ETC, THE BANK WILL PAY THE OUTSTANDING BALANCE DUE- YOU ARE NOT RESPONSIBLE FOR IT. THAT, OR THEY TAKE IT OUT OF THE PRICE OF THE HOME AND NEGOTIATE WITH THE NEW BUYER TO PAY THE BALANCE DUE.

PLEASE, DON’T LISTEN TO THESE MORONS THAT TELL YOU THAT YOU WILL HAVE TO PAY THE MORTGAGE EVEN THOUGH YOU NO LONGER OWN THE HOME- THAT IS NOT FALSE. THE MOST THE BANK CAN DO, IS AFTER THE SALE OF THE HOME, COME AFTER YOU TO COLLECT THE DIFFERENCE OF THE TAX OR THE LOAN AMOUNT LEFT. IF THAT HAPPENS, YOU HAVE THREE OPTIONS 1. GO THE THE COURT AFTER THEY SERVE YOU AND ONCE PRESENTED WITH THE SUIT, HAVE THEM PROVE THE LOAN IS YOURS. IF THEY CAN’T, THE LOAN IS VOID AND YOU DON’T OWE ANYTHING 2. IF THEY PROVE THE LOAN IS YOURS (REMEMBER, YOU SHOULD FOR SURE, ALWAYS, MAKE THEM PROVE THE LOAN IS YOURS FIRST) TELL THEM THAT YOU’LL SETTLE FOR HALF THE AMOUNT DUE. THEY OFTEN AGREE 3. IF SLAPPED WITH A SUIT, DECLARE BANKRUPTCY AND YOU WON’T OWE THEM A SINGLE DIME. TALK ABOUT A HUGE SLAP IN THE FACE! THAT MEANS THEY LOST ON THE HOME AND THE MONEY THEY PAID TO SERVE YOU, COURT FEES… ETC. Best of luck! Feel free to email me if any other questions uni_rule@hotmail.com. I offer free consulting. Why? Because I’ve gone through this process myself and know what its like. Its my way of giving back. I’ve also successfully helped other friends and family.

From what I understand, your home will not be taken until you don’t pay your property taxes for something like three years in CA, this assuming you’re paying your mortgage on time every month.
My credit is perfect, literally, but I’m screwed as far as the value of my house is concerned. I have another year or so on my ARM before it adjusts, and I just won’t be able to afford a penny more for the monthly payment (not that I could justify paying any more anyways). I bought in the mid 300’s, near 350K, and now they are worth the LOW 200’s. So I can’t refi, and a short sale will be unlikely being that short and having a 1st and second. I’ll try to short sale, but I’m afraid foreclosure will be the only option, cause the value clearly will not rebound within the next two years. If I foreclose, any amount of property taxes due just sticks with the property, and gets either forgiven or paid by the bank, and the foreclosure haunts me on my credit. But does anyone know first hand if the property tax nonpayment will be on my credit as well?

Someone must have a forclosure on their record, that didn’t pay their property taxes (why would you if you know your going to foreclose), that can look at their credit report.

Thanks, guys and gals!
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