How canI keep my home from going into foreclose?

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How canI keep my home from going into foreclose?

My home will be forclosed next month due to unpaid property taxes. I cannot get the money to pay what i need to. I want to keep my home. Do I have any options?

Asked on October 24, 2011 under Real Estate Law, Washington

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You should be able to temporarily stay, or delay, the foreclosure by filing bankruptcy, since filing bankruptcy will put a temporary halt to any collections actions. This is something you should discuss with a bankruptcy attorney. However, that would only be a temporary delay: mid- or long-term, there is no way to avoid foreclosure unless you pay the taxes; you don't have a right to keep your home without paying property tax. You can--and should--speak to the taxing authority; maybe you can work out a payment plan or schedule which you can meet. If you feel your taxes were too high and not properly assesed, you may be able to challenge the amount and reduce what you owe. But at the end of day, one way or another, you need to pay property taxes to keep your home.

Other options: if you can get some delay for extra time, could rent out some or all of your home, to bring in the money to pay taxes (you may have to live with family or friends, or rent a very inexpensive apartment). If you have equity in the home but can't afford to maintain the house (e.g. pay taxes), perhaps you should try to sell it.


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