Falling being on home property taxes creates problem with your tax collector but much more urgently with your mortgage lender. Why Your Mortgage Lender Gets Upset With virtually all mortgage contracts, falling behind on your home property taxes puts you in default on the mortgage itself. That means that even if you are current on the mortgage payments your … Read More
If behind on property taxes on property that isn’t your home, either Chapter 7 or Chapter 13 may buy you the time to save this property.
If you are behind on property taxes on your home, Chapter 7 often doesn’t give you enough time to catch up. But Chapter 13 likely would.
Catching up on property taxes benefits both you and your mortgage lender. Chapter 13 helps you pull this off under much less pressure.
Having unpaid property taxes is dangerous, and violates the contract with your mortgage lender. Bankruptcy addresses both issues. Is Chapter 7 “Straight Bankruptcy” Enough Help? It possibly can give you enough of a fresh start with your other debts so that you can catch up on your property taxes. But doing so while keeping your mortgage lender also satisfied is difficult to pull … Read More
Bankruptcy helps with your property taxes either by writing off your other debts or by buying you more time to catch up.
Falling behind on property taxes can have serious consequences, but does not necessarily mean you should hurry to sell your home.
Being behind on property taxes is usually a breach of your mortgage. Chapter 13 protects you from your mortgage lender so you can catch up.
Save your home by catching up on real property taxes and securing the release of recorded income tax liens.