If my county sells my home to pay off the taxes that I could not pay, am I liable for the debt owed to the mortgage company that it is short on the home loan?

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If my county sells my home to pay off the taxes that I could not pay, am I liable for the debt owed to the mortgage company that it is short on the home loan?

Asked on May 18, 2012 under Bankruptcy Law, Iowa

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Yes, you may in fact be liable for the deficiency (the money owed on the mortgage minus the sale price of the property).  If this has not happened yet I would strongly suugest that you get some one involved that can help here.  You need the lender to waive the deficiency at the very least.  Good luck.


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