Reply
Visitor
jpstephens
Posts: 1
Registered: ‎02-21-2013
0

Neighbor in Pre Foreclosure

Hello Board, 

 

I am writing because I am interested in a home in Halesite (11743) and the home has a neighbor that is in preforeclosure.  The neighbor leaves the house very run down and I am hearing varied things about how long it can take for them to lose the home. I have heard they have not paid the taxes, I have heard they have a date in front of a judge, etc. 

 

Is anyone able to help me figure out how soon they can be gone because it will effect my purchase offer on the home I love. 

 

Thanks!

Contributor
GreenTeamHV
Posts: 22
Registered: ‎05-01-2013
0

Re: Neighbor in Pre Foreclosure

[ Edited ]

As we all know the rumor mill is based on speculations, not always fact. Taxes are part of the public record so I would suggest looking up how far behind our friend here is on his payments. It varies town to town, in Warwick, NY (where I am currently located) its two years of not paying your tax before they put your house to auction. Here is where it gets tricky though. The bank may pay his taxes for him because if he losses his home due to not paying Uncle Sam, it knocks out the mortgage and the bank gets nothing. To put a somewhat numerical answer to you question, if loss of home is due to taxes then your wait will not be too long (probably). On the other hand if it's mortgage, the courts are so backed up with these cases it could be years. I wish you the best of luck on this but due realize real estate brings out the most unscrupulous people known to man. Keep me updated on your progress through this situation and I hope you are able to purchase the home of your dreams.