Legal Question in Credit and Debt Law in California

If a person owes property taxes and has a home equity line of credit and then loses the house in a foreclosure, what happens to the tax and heloc?


Asked on 1/12/11, 8:38 pm

1 Answer from Attorneys
Tony Carballo Carballo Law Offices

You still owe the HELOC but the property taxes are the liability of the new owner. Property taxes follow the property and are a lien only but not the personal liability of the owner of the property. If you do not pay taxes the property is just sold. You might be sued by the bank holding the HELOC note. That is now an unsecured debt.

Read more
Answered on 1/18/11, 12:31 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in California