Tax implication of "walking away" from your house. (mortgage, mortgage)

[islandFever]

There are lots of people who are just walking away from their homes. Aren't they still liable for the property tax, though? At what point are they no longer responsible for the tax?

Also, chances are that people who are behind on their mortgage payments, are also behind on their property taxes. Does this tax burden ever get forgiven? When a bank takes a property back, do they assume the tax burden?

[Silverfall]

Yes, the property taxes become a lien on the house, and whomever owns the home then becomes liable for the tax lien. So when the bank forecloses on it, they become responsible for all of the liens on the property.

[Brandon Hoffman]

You should contact someone with short sale experience and get them to help you. It's better.

[islandFever]

Thanks for your answers.