Do you owe delinquent property taxes in Colorado Springs? If so, you might be very nervous about losing your home if you are unable to come up with the cash to pay off your debt. The good news is that you have solutions available to you!
Owing delinquent taxes can be a nightmare. The costs can snowball quickly as you start racking up fees, penalties, and even interest. These taxes pay for the infrastructure for your city and beyond. Not paying them will have severe penalties. In some cases, you can even lose your house to foreclosure!
What Can Happen
When your taxes go unpaid for too long, the county can issue a lien against your property until you pay up. Eventually, the city will auction off the lien and you will be forced to pay the taxes, or the lien holder can foreclose on you. Admittedly, it can take a while to get to this point, but losing your house is a real threat of delinquent property taxes. It is important that you take the necessary steps in order to keep from losing your house.
What You Can Do
You have a few options when you are dealing with delinquent property taxes. Obviously, paying them off is the best option, but you struggled to pay them in the first place. You can choose to get a loan to pay off the taxes, but then you are merely replacing one debt with another. But, if you are on the verge of losing your home, it can be a viable solution so long as you are able to meet the terms of the loan. Even if you can only make payments toward your debt, the county is likely to work with you before selling your debt to the highest bidder.
You can try to negotiate the amount the property assessor has valued your home. Make sure they have all of your property data correct and look at what they assessed in comparison to what properties in the area are selling for. If you see a something that seems off, take it up with the appraiser and see what you can do about getting your taxes lowered. Getting them lowered may be a bit of a challenge. This is best done at the time of the property appraisal notice, which generally provides a time frame within which to object to the appraisal. Before you call the appraisers office, collect all applicable data so you can go into it well prepared and well informed.
Your third option would be to work with a buyer who is willing to help you tackle the liens and back property taxes you are facing. When working with a private buyer, make sure you are still receiving a fair price. Regardless of how desperate your situation might seem, you should always be treated fairly and receive an honest price.
How Swift Results, Inc. Can Help
Swift Results, Inc. is a team of professional homebuyers who can help you by purchasing your home outright. We will take care of the back taxes, liens and anything else that is stopping you from selling the house in the traditional manner. You don’t have to feel stuck, burdened or feel exhausted by the amount of debt you are facing. We have worked with people all over the Colorado Springs area who were dealing with property tax problems. Let us help you by using our knowledge and expertise to get you out of the situation fast!