If a house is taken by foreclosure and sold who gets the
money? My mother passed away last year. She owned a house but was behind on the taxes. She also had a small home equity loan out on the house. We are renting the house to pay the loan but have not been able to put any money towards the taxes. We would like to sell the house to settle the debts, hopefully before the house is taken by the town. If it is taken and sold for the back taxes (about $6,000), does the town get the remainder of the money after the debts are paid?Additional info:The house does have equity in it. Her estate has gone to probate, the house was left to me but the executor has to sell it to pay off the debts/taxes. We were only renting it until we could figure out how much to list it for. The executor is going to talk to the town to see what can be done to avoid foreclosure.
|