Property Tax Liens in Flagstaff Area Double | Legal News | News Ticker
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- Property Tax Liens in Flagstaff Area Double | Legal News | News Ticker
When a real estate market is depresses as Arizona’s is and has been for some time, there are certain results that tend to logically follow. Not only are mortgages falling into delinquency in high numbers when this situation arises, but property taxes are also going unpaid for a period of time as people simply do not have the available funds to meet all of their obligations. Unfortunately for many in the Flagstaff area, this appears to be what’s occurring, as the number of property tax liens that are currently active is double what they were a short time ago.
According to official state records, the number of property tax liens on file in Coconino County has climbed to more than 2,000 based on 2009 records. That number is about double the more than 1,000 property tax liens on record in the county for 2007. A tax lien is basically a security interest, meaning that if the property is to be sold, it cannot change hands until the tax liability on the property is paid. However, if the taxes on a property go unpaid for a long period of time, the collection efforts behind this status can lead to a foreclosure.
Many people who find themselves in this position are actually not very concerned about these liens being filed against their homes. They are already under water with their mortgages and have fallen behind on their mortgage payments, and many of those people have already decided that there is no way they are going to catch up to those delinquencies before they lose their home. However, this is generally not what should be done when faced with this problem, as there are options available that can provide people with a fresh financial start.
Arizona Bankruptcy Lawyers
The first step towards putting these financial problems in the past is seeking the help of experienced Arizona bankruptcy attorneys who have helped thousands of people provide themselves with a clean financial slate. There are steps that can be taken to help alleviate mortgage delinquencies and even certain types of tax debt that can help people get their heads above water and put these growing problems behind them once and for all. While each situation is different, the laws that exist do allow for several approaches.
However, that first step is always the most difficult. If you are tired of constantly worrying about your finances, seek the help of Arizona bankruptcy lawyers who can look at your situation and help you find a way out.The Phillips Law Group recommends the experienced bankruptcy attorneys atPhillips Law Group for all of your bankruptcy needs. Call today to schedule a free initial consultation!
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