What can be done regarding a pending property tax foreclosure on house owned free and clear?

UPDATED: Sep 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 30, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What can be done regarding a pending property tax foreclosure on house owned free and clear?

My father has a secondary home that he failed to pay taxes on due to illness and other financial obligations and now the city is going to foreclose. The house has no mortgage but he doesn’t have the cash to pay off the taxes. Is there anything that we can do? Can we pull out equity in the home?

Asked on April 26, 2017 under Real Estate Law, New York


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

You can't "pull out equity" from the home unless there is a lender willing to lend to you against the home, and if there is already a large mortgage and poor comps, you are unlikely to find one who will. All you can do is some combination of trying to negotiate with the tax dept. for a lower initial payment and trying to pull the money together somehow--if saving this house is economically and/or emotionally worth it to you--including by potentially mortgaging other property your father or you own.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption