Foreclosure. Haven't lived in home for 2 years, haven't made a payment for 2+ years. Currently listed but no accepted offers. Looking to do deed in lieu so we can get on with our lives. Will negative equity and property taxes be our responsibility? The home is in Kansas.
1 Answer from Attorneys
Negative equity is a term to be negotiated in the agreement. Property taxes are owed to the government, who isn't a party to the agreement. Until someone else parts then, you're precisely liable to a suit by the governmental bodies to whom you owe the taxes and assessments.