I am within 2 months of losing my rental property due to back taxes. I am paying the mortgage on time. I can't come up with the taxes should...

Question

I am within 2 months of losing my rental property due to back taxes. I am paying the mortgage on time. I can't come up with the taxes should I use my mortgage payments to pay the taxes, if not I am going to lose it anyway. I can play catch up with the mortgage company.. I just don't want to lose my property to the city for taxes...will I still be liable for the Mortgage...I am in panic mode right now. Please help

Answer

I suggest that you contact the city tax department immediately and ask if you can enter into a payment plan for the taxes. Beforehand, figure out what amount you can pay monthly towards the total tax bill and not jeopardize your ability to make the mortgage payment. Communication is imperative - the sooner you initiate contact with with tax authority, the more likely you will be able to reach a solution in time.

I wish you the very best.