The ins and outs of avoiding property tax foreclosure
Delinquent property taxes can be a real serious problem and can cause high levels of stress and burden on a property owner. In Detroit Michigan, property tax foreclosure has become a very common topic for discussion and an issue that is far too common. In this article we’ll discuss some options and possible solutions available for avoiding property tax foreclosure.
Circumstances Change
The truth is, financial circumstances can change in the blink of an eye. Economic hardships can happen to anyone unexpectedly and it can be really painful. Anything from the loss of job or sudden disability, health issues, divorce or even the death of a spouse or family member can change your finances over night. A large percentage of Americans living in historically industrial cities like Detroit Michigan have experienced some sort of economic changes at some point. The fact is that most people are living from paycheck to paycheck and are barely getting by. If this describes you, you’re not alone!
What Are My Options?
If you are currently 3 or more years behind in paying your property taxes then it’s crucial to take action immediately. The first obvious solution would be to pay your back taxes but that might not be an option for you due to financial reasons. In some cases it might be possible to get an extension if you qualify. Another option is to make payment arrangements with the Wayne County Treasurer. The Wayne County Treasurer office is located at 400 Monroe St Detroit, MI 48226 (In Greektown). Their phone number is 313-224-5990.
Consider Selling Your Property
If you owe back taxes on a rental property then this is probably your best option. Many times the best solution for avoiding tax foreclosure is to sell your house quickly. If you’re dealing with your primary home then selling your house would probably be a last resort but it’s still something to keep in mind. Situations vary but selling your house can eliminate the tax burden and possibly put some money in your pocket so you can enjoy a fresh start.
