How to stop property tax foreclosure is a question people ask every day. In the article below, we can help you learn how to stop the bank from foreclosing on your Metro Detroit house!
Property Tax Foreclosure can be a difficult and frustrating process. Not only will you lose your house, but you will also lose your pride. It can be difficult for anyone to handle. But what you need to know is that it happens to people all the time. You are not the first person going through it, and you certainly won’t be the last. The good news is, that if you are still in possession of your house, there are some things you can do to stop your county. But first…
Why Do Counties Foreclose?
Counties foreclose after multiple missed property tax payments. This can happen to the very best people and for all sorts of reasons. Divorce, job loss, the death of a loved one, family addition, and sudden illness are all common causes of missed payments. The last thing people need in any of these situations is to lose their house on top of everything else they are going through. If you are not able to pay the property taxes you owe, the county will foreclose on the property and resell at auction in an effort to recoup their money.
What You Can Do To Stop Property Tax Foreclosure In Michigan
Find A Buyer… Quickly
When you sell your house, the tax foreclosure process will stop in its tracks. You can try to find a buyer who can close quickly on your own, or you can call Easy Sale Today, who will always pay you a fair and honest price for your Metro Detroit house. If you sell on your own, to a buyer using financing, the sale could end up taking weeks or months to be finalized, and by then, the county may have already foreclosed. With a direct sale to Easy Sale Today, you will typically be able to sell your house in only a few short days.
Work Out A Deal
When you first realize you are having difficulties making your property tax payment, give the county a call first. They would rather work with you then deal with missed payments and foreclosure. Look into payment plans the county may offer you. You might be able to borrow money from friends or family to pay the back taxes. If you have missed a few tax payments, try to set up a payment plan to get back on track. Macomb, Oakland & Wayne Counties will agree to a payment plan but you must stick to it or they will foreclose and sell your home at auction. Before you do anything drastic, talk to the county first. They are used to dealing with these situations and will likely have a solution to help you.
File For Bankruptcy
If you file for bankruptcy, the counties may not be able collect payment until the court allows it. Make sure you choose the right type for your needs, Chapter 7 or Chapter 13, and that you have talked this through with an attorney. Filing for bankruptcy can have adverse effects on you and your credit for years to come.
Do you need to sell your Metro Detroit house before the bank forecloses? We can help! Send us a message or give us a call today! 586-636-0088