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Not Paying Property Taxes Can Lead to Loss of Home
- May 1st, 2013
Even if you have paid off your mortgage, you still have to keep on top of property taxes. As property taxes rise, this can be difficult, but falling behind on payments can have serious consequences. In addition to racking up penalties and fines, missing a property tax payment can cause you to lose your home.
If a homeowner doesn't pay his or her property taxes, the government will put a tax lien on the property. The government may then sell the lien to an investor who is entitled to collect the debt along with penalties and interest. If the homeowner can't or won't pay up, the investor can foreclose on the house and then sell it for a large profit. In a booming housing market, this type of investment can be very popular. Unfortunately, low-income elderly individuals are often the victims in these investment schemes. It doesn't matter how small the tax bill is; the government can get a lien on even the smallest tax bill.
Local Elder Law Attorneys in Ashburn, VA
Law Offices of John L. Laster
John Laster is a lawyer licensed to practice in Virginia, Maryland and the District of Columbia. He limits his practice to wealth transfer planning, trusts, wills, powers of attorney, health care decision-making issues, estate administration and related tax, elder law and disability concerns. Listed in The Best Lawyers...
Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
Ron M. Landsman, P.A.
Ron M. Landsman has been practicing elder law since 1983, before it was known as elder law, originally with Landsman and Laster, Washington, D.C., then Landsman, Eakes and Laster, also in Arlington, VA, and since 1990 in his own practice in Montgomery County, Maryland. He has been among the most active members of the...
Keep an eye out for property tax bills and pay them on time. If you don't remember ever receiving a property tax bill, you should check with the county to make sure you don't owe any taxes. If you can't afford to pay property taxes, many states have programs to help elderly homeowners with payments. You may be able to pay in installments or defer payments until you sell the house.
If you receive a tax lien notice or notice of foreclosure, contact an attorney immediately.
Last Modified: 05/01/2013