What is tax lien foreclosures?

Tax lien foreclosures are a type of foreclosure in Virginia where property owners fail to pay their property taxes and the county or state government is forced to take legal action in order to collect the payment. When this occurs, the government will initiate a tax lien foreclosure. This process allows the government to seize the property in order to recoup their losses from the unpaid taxes. Tax lien foreclosures are typically used when property owners are more than two years behind on their property tax payments. In this case, Virginia law requires that the government must send a notice to the property owner informing them of the tax delinquency. The notice will also include the amount of delinquent taxes that are due, along with the date the payment is due and a warning that failure to pay the delinquent taxes will result in a tax lien foreclosure. Once the tax lien foreclosure is initiated, the government is able to take possession of the property. At this point, they are allowed to sell the delinquent property in order to cover the unpaid taxes. In some cases, the government will also add additional interest and fees to the delinquent taxes in order to increase the total payments due. Although tax lien foreclosures can seem intimidating, it is important to remember that the government is simply trying to recoup its losses from the unpaid taxes. In addition, the government may be willing to negotiate a payment plan or offer other assistance in order to help property owners avoid a tax lien foreclosure.

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What is tax lien foreclosures?

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