We are in a financial bind and owe back property taxes in the amount of $12,000.00. The house gets foreclosed on may 12 2010. We have $6000.00 of it to pay. Is there any way of stopping the foreclosure and losing the house ?
Corporate / Incorporation Lawyer
The best you can hope fro at this late date is to contact the law firm handling the foreclosure and make an offer of immediate payment of $6,000 to cancel the foreclosure sale and seek additional time (like 60 or 90 days). Many states now allow property tax loans to pay off delinquent taxes, and you may be able to pursue that option if you can get the foreclosure postponed. However, since it is only a couple days away, you need to call them non-stop, starting Monday morning and make sure you can wire the $6,000 to them immediately to avoid the foreclosure. If the worst happens and there is a foreclosure, many states also have a redemption period within which the former owner can "redeem" the property can regain title by paying the amount of taxes, penalty, interest, and costs of foreclosure. Good luck