There’s power in making that final mortgage payment on your house. Owning property free and clear can give you financial security–and a lot of options.
But owning your property outright doesn’t free you from all obligations.
In order to remain lien-free, your property must be maintained and kept to code and the property taxes must be paid each year. Without exception.
The truth is that, even if the bank can no longer stake a claim to your house, the city and/or county can. How can that be, if you own the property? Unpaid citations for code violations can become liens–which, if left unpaid, can lead the city or county to foreclose on your property. The same is true for unpaid property taxes or even unpaid utility bills.
Can you imagine losing the equity in your house due to foreclosure because of unpaid water bills?
The good news is that, even if there are multiple liens on your property (due to code violations, late tax payments, and/or unpaid utilities), you still have options. While getting together the cash to pay the liens and stay in your house might not be feasible, you can still walk away with a sizable chunk of the equity you’ve accrued. And you should! It’s money that you’ve earned by diligently and regularly making mortgage payments for years.
Angie Buys Houses Central Florida will work directly with your county or municipality on your behalf to negotiate the liens down to a manable amount, so we can move forward with closing. If we can get the liens down to an amount that works for everyone, then you can walk away with cash in hand–and use the money you put into your property to find a housing situation that will work for you. Maybe you will downsize. Or move in with family and save the money. Or maybe you’ll relocate to a place that fits this stage in your life perfectly. No matter what you choose to do, it will be YOUR choice.
Don’t let liens rob you of equity you’ve worked hard to earn. If you know that you are headed to foreclosure over unpaid liens, call us right away. We can help.