Life is unpredictable, and stress is at an all-time high. You are not alone whether you are going through a job loss, unexpected medical costs or other personal difficulties.
Many Michigan residents are facing tax foreclosure, and thousands of Michigan homes are expected to go into foreclosure this year.
Many individuals want to sell their property to halt foreclosure in Michigan. The lengthy answer is that it is a little more complicated. However, you may sell your home before going into tax foreclosure.
Already Received a Foreclosure Notice? Let us save your house! We will do it as a team. You will get help in budgeting or simply talk about the options; for example, let us speak with your servicer to request some leniency.
In both scenarios, you will receive the Cash Offer in 24hrs, and we offer a rapid closing. Throughout the process, our team of foreclosure specialists will handle the documentation work, and you will never have to worry about anything.
When the taxing authority initiates foreclosure proceedings owing to unpaid property taxes, a Tax Forfeiture auction and tax lien foreclosure ensues. In Michigan, property tax default results in a three-year forfeiture and foreclosure procedure. When property taxes fall for the second year, the property is forfeited to the state treasurers. If property taxes are not paid, it is foreclosed upon by the Foreclosure Government Unit (FGU).
Some lenders may agree to a repayment plan, which is a terrific alternative for Michigan homeowners who can afford it. You will be required to make your regular payment and an extra amount under a repayment plan. This repayment plan will last as long as you need to make up for the missed installments.
This is usually a last resort choice, and we get that the word “bankruptcy” is frightening, but keep reading. Bankruptcy is a legal process enforced by a court order that allows persons in financial distress to seek relief from their creditors. Both bankruptcy and foreclosure are very bad for your credit, but bankruptcy will enable you to start over. You’ll be debt-free and able to start restoring your good credit right away.
Is there a last-minute way to avoid foreclosure? Yes, indeed! Selling your home for cash will help you prevent foreclosure tax while protecting your credit. This is frequently a much better alternative since it allows you to keep more of the equity you’ve earned in your house. Home Foreclosure Solutions providers can pay cash for your house quickly. We may be able to pay off your tax and leave you with money in your pocket.
We aim to offer an easy and quick solution for Tax foreclosure properties in Michigan. The process is as easy as ABC.
If your property has already been subjected to tax foreclosure, redemption may still be possible. Certain points will affect our capacity to negotiate with the taxation authorities; One of the most important considerations in redeeming the property is if a third party acquires the unpaid taxes. Call us for a free assessment to discuss your situation and possible solutions.
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