Do Banks keep paying REO HOA and Taxes on vacants?

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Posted by kaity on May 07, 2008 at 09:46:02:
Question for Bill Brochnick and other RE law gurus:
Do banks pay REO taxes and condo/coop dues even though the property is vacant/unsold ---- or, do they get a special "break" from taxes, maintenance and condo fees?
The reason I ask is because I live in California ("ground zero" for REOs) and wondered if for example a bank still has to pay the monthly maintenance/Homeowners Association Dues while the property is vacant.
If so, man, our country is in REAL trouble (think on all the condos/coops foreclosures and REOS...)
I'll keep my money in the mattress its' safer! :)
Kait

Follow Ups:

Re: Do Banks keep paying REO HOA and Taxes Natalie-VA 10:43:40 05/16/08 (0)

Yes, they are supposed Rich-CA 12:57:06 05/07/08 (0)

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