Legal Question in Intellectual Property in New York

Re: Refinancing without property taxes paid

The mortgage (the bank's money) is separate and apart from the taxes. The bank will want any back taxes paid before they will agree to refinance the property, however, because the taxing authority will come before the bank in the line of creditors that will form when the property is foreclosed for back taxes.

You can negotiate with the bank to use the proceeds of the refi to pay the back taxes if you have sufficient equity in the house to get that much back in the refi.

Good luck.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.