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Many of my clients filed bankruptcy while behind on the mortgage. Sometimes, the client arranges for a loan modification with the lender during or after the bankruptcy. Other times, the client was a couple of months delinquent and merely remained one or two months delinquent before, during and after the.
Also, assume that the debtor’s taxes are due on January 1 the following year and must be paid by January 31 or penalties are imposed. Suppose our debtor files for chapter 7 bankruptcy protection on January 30, 2013. Any personal property taxes owed for 2012 is obviously a priority debt and is not discharged.
Re: Delinquent property taxes after chapter 7 bankruptcy Most likely they will put a tax lien on the property and pursue foreclosure under tax lien, which the lender will have to deal with because taxes take priority over the lender.
Bankruptcy will also not let you discharge certain types of debts, such as child support, alimony, most student loans, court restitution orders, criminal fines, and some taxes. Bankruptcy may not let you discharge debts that arise after your bankruptcy case has been filed.
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Property taxes are an automatic lien on the subject property, and that lien remains on the property until the taxes have been paid in full. A lien affects the marketability and title to the property.
state loans or reverse mortgages to low-income seniors for property tax relief: other states and options for connecticut By: Helga Niesz, Principal Analyst You asked (1) whether other states make loans through reverse mortgages to senior citizens with limited incomes as a means of local property tax relief and (2) what the options are for doing.
Yogi Bear’s Jellystone Park Camp Resort in Robert has filed for bankruptcy protection nearly three years after severe.
Chapter 11 is a section of the bankruptcy code that permits individuals and businesses to either liquidate or reorganize debt. Distinct from Chapter 7 and Chapter 13 bankruptcy cases, Chapter 11 typically involves greater sums of money regarding the assets and debts of the individual or business.. Who Can File for Chapter 11 Bankruptcy?
Common Problems with Property Titles and Resolutions When you purchase real property, part of your due diligence is to review the property title report to.