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Please help - Need Mortgage Advice

Hi, just to start off. I'm disabled and on a fix income. I pinched and cut things short so I could get my house paid off. But over time the price of everything has gone up. But we ( my wife and I ) did not have the money to pay the taxes on our home. I the past years we could get a loin from our town bank. But it went under and a new bank took it over so all the hard work we did building to credit went right down the tubes. Now some one got our back taxes of $7,000. I think the house has a value of $35,000 to $45,000 and it just does not seem right that they can get our house for so little. Any thing that could help would be great. Thxs for Ur time and help... by wbarry1313833 from Kearney, Nebraska. Sep 30th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

For someone to buy your back taxes of $7000 on a home worth maybe $45,000 you would have had to been delinquent for some time.. but unfortunately, they can get your home for the back taxes if that is all that is owed on the home.. the only thing that might work is a reverse mortgage.. If you or your wife is 62 or older, and you can prove that you have the income to maintain the taxes and insurance on the property, you can get approved... If you do go this route, it's imperative that you never go delinquent on your taxes again, because you will lose your home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Sep 30th 2015
Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

William is right. See if you qualify for a Reverse Mortgage.

Sep 30th 2015
Sara Deere (Mortgagequeen2)
#16 ranked lender in Missouri - 594 contributions

In order to do a reverse mortgage, one owner in the house has to be 62 years old or within three months. Another huge problem is you have to be on title as the current owner's of the home. If someone bought the back taxes, then they are the actual owner of your home.

Oct 1st 2015
Reuben Cano (eloanadvisor)
#448 ranked lender in California - 10 contributions

make sure to check on your rights as the home owner as it relates to the rights of the party who bought your tax lien. The fact that someone bought the tax lien does not automatically mean they own your house. Every state has different rules on that, there is usually a redemption period by which you can pay off that debt and rescue your house. Make sure your consult an attorney ASAP, time is your enemy at this point.

Oct 3rd 2015
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