Real Estate Law
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Thanks for your question and good morning.My sympathy here for your situation and dilemma.
You may contact the lender here and see if they would pay them off and raise our payments.That might be an option.You would then be able to compare it to the payment plan you were offered here.
The state of California does not have a separate plan for payment of these taxes.
You would have the option here to borrow funds elsewhere and pay back the loan.I don't know if you can do better but that would be an option.
Can I ask for an extension on the Power to Sell? Do you think they will really file it? What would happen if they did file on July 1?
This would be a conventional loan from say credit union or other lender.
You can ask, n o harm in that.See what response you get, you may want to document hardship here--if you have had personal or financial setbacks you may get them to agree to that.Also you can mention you are trying to locate other options here like lender, etc.
I do think these guys mean business here.The tax collection business has become big business unfortunately.
So you will want to maximize your options here checking with lender, asking for an extension, anything and everything,
it never hurts here to not leave a stone unturned.That way you can make the best deal you can based on the options they offer you.
My lender will step in no matter what though, right? Because they don't want to lose their property
They would likely do so yes, but remember this puts you in default if the note states that you are to pay the taxes so then you have that problem.
So it moves you from one problem with one entity to problems with lender here.
And likely then the lender will set up an escrow account and force you to raise your payments here.
You would then have a note with escrow built it so your payments will go up both to pay back here and then to escrow fro future payments.
So I would contact the lender and see what information you get, then you may ask for an extension, and then decide which is better for you here.
Gather all the information/options you can before you decide which direction to go.
ok thank you for your help I appreciate it