In Florida, if you dont pay the taxes by X date, the tax note is put up for auction, basically...someone or some company buys the right to the property by paying the taxes on it. You, as the occupant, have the right to pay the taxes before X days expire, basically screwing the person over (their gamble).
If you do not pay by X date, you are evicted by the new owners, who would have to settle up with the reverse mortgage company, and would then own the note, or the deed outright.
Almost experienced it firsthand in like 2005...came within a day.
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