Pay off their back taxes, they are faced with a And even when homeowners seek an agreement to Statutory interest rates of 16% and late fees work to put a potential Regardless of the cause, once a homeowner falls behind, punishing The possibility of being foreclosed upon. These problems are frequently compounded by inadequate notice of Trouble understanding their obligations in the first place. Some seniors may not be aware of the deferrals and abatements available to themīy law, while others with cognitive disabilities or surviving spouses may have Meanwhile, rising property values and property-tax rates oftenĬombine to make it difficult for homeowners to stay current on their tax bills-especiallyįor those on low or fixed incomes, including theĮlderly, the disabled, or anyone who is house-rich and cash-poor. Incentive to take advantage of that windfall provision but no incentive toĬonsider the effect of foreclosure on the community as a whole. Municipalities can sell the outstanding debt to third parties, who have an They have built up-regardless of the amount of debt actually owed. Which a homeowner loses not only their real property but all the equity Under current law, tax-lien foreclosures can lead to outcomes in Prompted by concerns about existing Massachusetts laws regarding the enforcement of foreclosure on homeowners with outstanding municipal tax arrears, the BBA has joined other advocates, chief among them Greater Boston Legal Services and the National Consumer Law Center, in endorsing reforms to the state law on these “tax-lien foreclosures”.
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