asked

I currently have a mortgage for my condo which I purchased in 2006. The property lost 50% of its value during a 5-year loan period. Upon expiration, the bank refinanced me with 1-year short-term mortgages and paid some real estate taxes. This year, they failed to pay the taxes, but I have continued making loan payments. I am considering foreclosure but am unsure how to proceed without a current loan agreement. Would I need to get the bank to extend the loan for another year before initiating foreclosure? Can I use squatters' rights to gain title since I am not under a current loan agreement? Or can the bank remove me by force without foreclosure?

January 3rd, 2024

Sign Up to View Answers

Create an account to view answers and interact with the community!