Florida prop tax laws.....

[mrvette]

Under STATE regs or local county??

thinking of not paying.....

eff em'.....and so that could be the consequences....???


reversed outta the house, which is grossly upside down for the bank....

what is the worst that could happen???

[ft laud mike]

I think you could save much more money by not paying the bank

[Stangkiller]

Originally Posted by ft laud mike

I think you could save much more money by not paying the bank

He's a reverse mortgage...the bank makes monthly payments to him.

[Blue 92]

Originally Posted by ft laud mike

I think you could save much more money by not paying the bank

Go big. Don't pay either and let them fight over it.

[ft laud mike]

Originally Posted by Stangkiller

He's a reverse mortgage...the bank makes monthly payments to him.

Then he shouls stop taking the payments... that will show them.....oh wait..nevermind

[Fastguy]

Tax foreclosure.

[RED-85-Z51]

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.

[island14]

[mrvette]

Originally Posted by Stangkiller

He's a reverse mortgage...the bank makes monthly payments to him.

NOPE, I cashed out in lump sum....about this time of year 5 years ago.....when I figgered out nobam was going to win.....

we have had some nice vacations since then....

[mrvette]

Originally Posted by RED-85-Z51

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.

The reverse mortgage is up to 115k on the house, house would never sell for a dime over 70k if that......one down the street, not as big sold for only 35k a couple years ago....35 grand....WITH a new roof....

now some silly tax gig is NOT going to wipe out a 115k 'asset' from some bank, even IF the house would sell at a hell of a loss.....

that's the way I look at it anyway, anyone know any different???

[Omega Man]

I am sure there is a document in the closing paperwork that you agreed to pay the taxes and stuff.

I would not skip the taxes. It will end of screwing you for sure.

[MrPeabody]

Tell the bank if they don't pay your property taxes you will park your motor home in front of their building and live in it.

[Kevin_73]

Originally Posted by Omega Man

I am sure there is a document in the closing paperwork that you agreed to pay the taxes and stuff.

I would not skip the taxes. It will end of screwing you for sure.

You're going to end up in Florida pound me in the ass prison.

[mrvette]

Originally Posted by MrPeabody

Tell the bank if they don't pay your property taxes you will park your motor home in front of their building and live in it.

AND run a cord into their 30 amp outlet...... AND a hose to their outside water.....

[Jeff '79]

Originally Posted by mrvette

AND run a cord into their 30 amp outlet...... AND a hose to their outside water.....

And run the septic to their front door...

[mrvette]

Originally Posted by Jeff '79

And run the septic to their front door...

Actually we have a chem porta potty, and so to dump THAT down a drainage sewer.....the discharge from the sink area goes to same place, but it's just gray water.....


but WTF, ALL water goes back to the earth, one way or another.....

[MrPeabody]

Shitter was Full! Short - YouTube

[...Whitepower...]

My very first flip I bought at an auction on the court house steps when i lived in NY. It was an owner occupied townhouse that the guy stopped paying on and that there was some tax liens on as well. Anyway i bought it, closed on it, and went to the property after the closing to have it rekeyed. Only problem was the guy that stopped paying on it was still occupying it and had no clue it was sold out from under him. Next stop was my attorney who started the eviction process. 30 days later he was picking his belongings up off the front lawn when he got home from work while a sheriff and i watched.

Don't let that be you and your wife. Best of luck to you.

[theanswriz42]

Gene, where do you come up with these ideas? I'm just shaking my head...