What happens if I am unable to pay my taxes while in foreclosure?

If you are unable to pay your taxes while in foreclosure in New York, you have several options. First, you may be eligible for a property tax deferral if you are unable to pay due to hardship. With this type of deferral, you can postpone paying your taxes until the foreclosure is resolved. Alternatively, you can ask to enter into a payment plan with the local taxing authority. This could allow you to spread the tax payments out over several months or years, while still paying the amount owed on time. You may also be eligible for a Homeowner’s Tax Relief Program (HTRP). To qualify, you must own a home valued at less than $59,000 and be senior citizens, veterans, disabled, or low-income individuals. This program provides a tax reduction, which can help reduce your financial burden while in foreclosure. Finally, you may want to consider filing a Chapter 13 bankruptcy. This type of bankruptcy allows you to set up a payment plan with your creditors, which could include your taxes. It also can delay foreclosure proceedings while you make the payments, giving you the chance to catch up on your taxes and save your home. No matter what option you choose, it is important to talk to an experienced foreclosure defense lawyer to make sure you understand your rights and obligations. Understanding your legal options can help you make a more informed decision about the best way to handle your taxes while in foreclosure.

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What happens if I am unable to pay my taxes while in foreclosure?

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