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Can unpaid tax debts lead to home foreclosure?

On Behalf of | Jun 12, 2023 | Tax Debt

Those who struggle to keep up with tax obligations may have concerns about what this might mean for their financial futures and how the situation might affect their lives. In some cases, individuals in Georgia who face high tax debts may even worry that they may encounter issues such as foreclosure. Seeking advice in evaluating the situation could help individuals who struggle with tax debts prepare to seek financial relief and stave off unfavorable results. 

Tax foreclosure 

Experts indicate that since homes and other types of properties are classified as tax-delinquent assets, it is possible that overdue tax debts may eventually lead to foreclosure. However, this might not be the first step taken to address such issues. One of the first issues one might face could involve a lien being placed on the home and addressing one’s options when facing such a scenario may be imperative. 

According to experts, one may be able to resolve these issues by paying down tax debts and having the lien removed from the tax deed. However, this might not always be possible, and when liens remain on the title for extended periods, tax debt obligations may continue to rise with time. When this occurs, the government may begin the process of foreclosing on the home or property. 

Tax debt relief 

Facing the possibility of foreclosure can be a harrowing process and those who wish to protect their futures when facing tax debts may benefit from seeking advice in exploring their options. Those who encounter similar issues might consider consulting with legal counsel for assistance in preparing to make informed decisions about their situations. An attorney can help a client in Georgia prepare to pursue much-needed tax debt relief and provide insight on ways to keep similar issues at bay in the future.