Property tax problems for customers of bankrupt lender

Property tax problems for customers of bankrupt lender

Traditionally, someone with credit problems – like those brought on by foreclosures, bankruptcy, or general poor financial health – will have a hard time getting a mortgage (especially one with good terms and conditions) until these negative items age off. For example, bankruptcy can be reported for 10 years from your filing date.

Interest, in finance and economics, is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its.

And bankruptcy. focus on problems with precision, while the Chapter 9 process is more scattered. “Bankruptcy for the most part is a shotgun blast,” said Spiotto. That disrupts all of a city’s.

TAXES. If you remain the deeded owner of the property, you must continue to pay property tax – even if you are surrendering your home in Chapter 7 bankruptcy. The foreclosing lender will eventually pay the property tax, but until that happens, the Department of Tax and Revenue will attempt to collect any unpaid taxes from you.

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“PACE loans. your property tax bill,” said Kevin Pendergraft, CEO of Pacific Community Credit Union, which has branches in La Habra and Irvine. “If a consumer runs into financial problems, they.

She had declared bankruptcy the year before and was struggling to prevent the foreclosure of her home, court and property records. proprietor of a business, even though she filed paperwork to do.

We are two affiliated law firms providing Bankruptcy, Tax, Business and Corporate Legal Services . Law Offices of Stephen B. Kass, P.C. For more than 15 years the Law Offices of Stephen B. Kass, P.C. has offered experienced legal counseling in the areas of Bankruptcy (Chapter 7, Chapter 13 for Consumers and Chapter 11 Reorganization filings for Businesses with high tax debt as well as Chapter.

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