Security Disability benefits • own or are buying the property and have a recorded deed or sales contract • have lived in the property for at least five years and maintain homeowner’s insurance • have an annual income of less than $43,000 and a net worth of less than $500,000. • do not have a reverse mortgage under the program
FILE FOR BANKRUPTCY
As briefly mentioned, you can stop the delinquent tax payment foreclosure process on your property by filing for bankruptcy. This option will pause or stop the foreclosing process; it might also give you the possibility of paying all your delinquent property taxes in installments over the course of several years. However, filing for bankruptcy is a highly bureaucratic, complicated process, which will most likely require you to employ the services of a specialized attorney. It will also affect your credit and ability to make certain financial decisions, among other areas.
SELLING THE HOUSE TO AN INVES O AN INVESTOR
Real estate investors buy properties that they intend to use as rentals, resell at a higher price, or build up a property portfolio. Chances are, you know exactly what we are referring to after having seen signs saying, “We buy homes fast!” Tax delinquency lists are published and are public record, so it’s common for people in delinquency status to receive offers for their houses from real estate investors. You might have even received one or more offers from investors 34
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