my home didnt sell at bank foreclosure sale and now its up for tax foreclosure, what should i do?
my home went to bank foreclosure in 2010, ive been waiting for a letter of eviction for a year now and nothing…i just recently recieved lettters of tax foreclosure sale if not paid by march 2012. should i pay the taxes and stay there or try to buy it at the tax sale or what? i’m lost and afraid of what to do
If you can afford it, have someone go to the tax sale and buy it for you. You then buy it from them for a small profit (to make it worth their time), and in most states you’ll have a house clear of all encumbrances (including the mortgage).
If you don’t have the money to ensure you could outbid others for the house (it will be an auction) at the tax sale, then pay the taxes to stay as long as you can. Meantime, find an investor who will buy the house from the bank and let you rent it, preferably with an option to own.
If you can afford it, have someone go to the tax sale and buy it for you. You then buy it from them for a small profit (to make it worth their time), and in most states you’ll have a house clear of all encumbrances (including the mortgage).
If you don’t have the money to ensure you could outbid others for the house (it will be an auction) at the tax sale, then pay the taxes to stay as long as you can. Meantime, find an investor who will buy the house from the bank and let you rent it, preferably with an option to own.
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LikeDislikeGerry is correct; I have advised people to do this for ages!
either he [whom I do not know] or myself can advise you on this
further.
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LikeDislikeYou need to consult an attorney firm that specializes foreclosure.
They handle issues like pending foreclosure, denied loan modifications, defaulted mortgage payments, negative equity, etc.
The best part is they stop the foreclosure process immediately, and help you avoid the damaging effects of a foreclosure on your credit.
You can call this number toll-free for a consultation:
877-516-8216
Cheers and good luck
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