in Circuit Court. June 1 to January 31: All owners and lien holders are identified and contacted through title research, and personal visits are made to taxpayers. 3rd Year of Delinquency, January: “Show cause” hearings are held, giving taxpayers a chance to appeal foreclosure. 3rd Year of Delinquency, February: Circuit Court hearing is held, Foreclosure Order signed by the Judge. 3rd Year of Delinquency, March 31: h 31:Taxpayers lose all interest in their property. 3rd Year of Delinquency, August: Tax-foreclosed properties are offered at auction to recover back taxes, interest, and penalties. AVOIDING FORECLOSURE FOR REASONS OTHER THAN TAX DELINQUENCIES There are a few options to consider that can stave off foreclosure. These options can come in handy in this drastic circumstance, and you can think of them as potential “remedies” when you want to hold on to your home. • Try reinstatement. If foreclosure is looming due to missed mortgage payments, reinstatement refers to the case in which you bring your payments current by paying—in full—the amount due to your lender, including all the back payments, fees, and fines charged. As unlikely as it may sound, this scenario can happen; perhaps there’s a new job in the offing or loans from relatives or friends available. As a homeowner, it’s possible to reinstate a mortgage even up to the day just before a final foreclosure. In addition, this tactic requires no lender
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