Saturday, August 01, 2015

Most people don’t realize that the infamous “tax deed” sales still exist. Remember Snyley Whiplash? Yes; you can lose your property because you got behind in your Real Estate Taxes. This can happen even though you don’t have a mortgage.

Unfortunately, since most mortgage lenders escrow (collect a percentage of your taxes in each monthly payment) generally the problems occur with free and clear properties (meaning your mortgage is now paid off and there is no one setting aside the tax money for you). Often these are inherited or gifted properties that may have been passed down through generations. As a result the title is not clear and when the tax delinquency is discovered, it is too late to get a conventional loan or sell; both of which require clear title.

As result of the procedure most counties use when selling a property for delinquent taxes, often the homeowner gets less than 30 days notice before the sale. Not enough time to get a loan even with a clear title!

This is where The Terra Mar Group can help...

We can solve your Real Estate Tax problems and stop the tax deed sale. We do not require clear title to stop the tax deed sale. We will also assist you in fixing your title problems. We will be able to help you even if you are only 1 of several heirs or only own a partial interest in the property. If the property is not your home and you just want to be done with the headaches, we will offer you a fair price.

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