Tax Lien and Mortgage Default Letter

What is the name of your state? NH

My question is two part:

Part A. When I originally refinanced my mortgage, I opted to try to Escrow my own taxes.
That's not working well. The town is about to put a Tax Lien on the property and I have 3 years in which to pay off this debt. I should be able to pay this off within a Month or two.
How bad is a Tax Lien of $1300?

Part B. My original mortgage was sold to a new lender. This lender sent me a letter saying that I would be in "Default" if I didn't pay my taxes to the Town. They also sent another letter saying that they would pay the taxes, should the Town not be paid.

I spoke with the Mortgage company and explained I was paying my taxes to the Town on a Monthly basis. I also sent them a letter accordingly.

They said they WILL NOT pay what I owe, but are willing to Escrow for the next round of taxes.

However, I'm VERY concerned about the letter saying, "DEFAULT" on the Mortgage, if taxes are not paid on time. Mortgage companies tend to have loop holes that say the loan is due in full within 1 week if you miss X on this part of the contract - which of course nobody really reads.

When I spoke to them, they didn't seem concerned, however, I am nervous. Am I risking foreclosure at this point, knowing the Town will hit me with a Tax Lien??

Please let me know.

Thanks

[pojo2]

"DEFAULT" on the Mortgage, if taxes are not paid on time.

Of course you are in default because you are not protecting their interest when you let the taxes go unpaid. You are also VERY lucky because most places are not so generous in terms of paying your back taxes at all!

part of the contract - which of course nobody really reads.

Nobody covers a vast number of people and most consider the amount spent for a home a very serious investment worthy of their FULL attention.

The new mortgage company never sent me a new contract - it was just sold.
As for reading 80 pages of fine attorney jargon, I stand correct - 97% of people do not read every fine detail.

But my mortgage company IS NOT paying this bill. They said they would, but didn't.

If I do get a tax lien, what happens next? Can a mortgage company foreclose on that alone?

[pojo2]

The new mortgage company never sent me a new contract - it was just sold.

That is because there is NOnew contract to send you they bought the contract meaning the contract remains the same.

But my mortgage company IS NOT paying this bill. They said they would, but didn't.

Would you please scan the documment/letter where they TOLD you this so we may view it?

The mortgage company has every right to protect their investment and if you are NOT living up to the terms of your CONTRACT then yes they may foreclose.

But my mortgage company IS NOT paying this bill. They said they would, but didn't.

They said they WILL NOT pay what I owe, but are willing to Escrow for the next round of taxes

They also sent another letter saying that they would pay the taxes.

Make up your mind which is it?

Let them escrow for next time and go out and get an evening and weekend job for a few weeks and the problem will be solved.