What is the banks benefit by waiting for a property tax sell?

Question

I have been trying to get rid of a house for two years now.  Bank started foreclosure then cancelled the foreclosure and charged off the loan.  House is worth $20,000 (due to vandals) but has a $90,000 lien.  

The house is two years behind in property taxes but will not be sold by the county until three years behind. I was told they would not sell the property sooner as I requested.  I have been trying to work with the bank to sell this house to interested parties but no luck.

What is the banks benefit by having the house sold for back taxes?  The money is then going to the county and not the bank. So I just do not get it.  Why are they dragging their feet?  Unless I win the lottery I will not be inventing any funds in this property. 

Any way I can unload this property quick?

kemperk · Accepted Answer

you have been given 1/2 data.

last fall, the fed, for supposedly good intents, froze
foreclosures.   DUMB result

now, the housing biz is in limbo.........sorry

? · Answer

Ask your tenents in the journey that they could opt to purchase your abode or in the journey that they comprehend someone who may opt to purchase. If no longer, supply them an incentive to stay in the journey that they help you contained in the sale till that is offered . otherwise, once you position a on the marketplace signal on your resources the tenents will initiate to make association to bypass. so that you'll nicely be vacant at the same time as promoting. attempt to keep your tenants onside with you so that they paintings such as your Realtor. make positive you fee your abode to the marketplace. Get a marketplace evaluation out of your realtor to be certain how lengthy it takes to promote and what number client are contained in the marketplace. fee quite below the marketplace value for a speedy sale. make positive your tenent is conscious you'd be honest.

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What is the banks benefit by waiting for a property tax sell?

2 Answers