2007-08-13 10:44:51 · 5 answers · asked by jmitc3 1 in Business & Finance ➔ Taxes ➔ United States
If you have equity in the home you could do a reverse mortgage and borrow against it. It's not a good choice, but better than losing the home, or selling it, if you want to keep it. The only thing with a reverse mortgage is, is all you all doing is putting off when you will have to sell it. It's not a solution, but merely a stopgap.
2007-08-13 10:55:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have a true financial hardship due to disability, old age, etc, talk to the city officials. The law and customs vary, but in some places they will agree to place a tax lien on the property and let the taxes and interest accumulate until you leave the property. This of course is only delaying the inevitable, so if you expect to live a long time, sell it and move to someplace more affordable.
2007-08-13 13:20:02 · answer #2 · answered by r_kav 4 · 0⤊ 0⤋
get a roomate to help pay the bills. or rent house to someone to raise money. i know durham is a college town so this should be no problem. if you don`t pay taxes there are people who will snatch up your property by paying them and getting a quick claim deed. i know people that make a living this way.
2007-08-13 11:00:22 · answer #3 · answered by Phil Deese 5 · 0⤊ 0⤋
The only way to keep your home is to find some way to pay your property taxes.
Good luck.
2007-08-13 10:48:24 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Find the money somewhere or sell the place and move somewhere where you can afford it.
What is the "won:t" thing in your question? You mean WANT don't you?
2007-08-13 10:54:18 · answer #5 · answered by Goldenrain 6 · 0⤊ 0⤋