Having a tax lien on your property can carry hefty consequences for your future. It can harm your credit in a lasting way and if left unattended, the penalties can be dire. If you’re facing a tax lien on your property, then you need to consult an Essex, MD Tax Lien lawyer as soon as possible.
Experience is On Your Side
Here at the Law Office of Ross W. Albers we offer top-rated tax lien litigation from the areas best Essex, MD Tax lien attorneys. We can help with all types of tax lien services in Essex, MD including:
- Pre-Tax Sales Services
- Tax Lien Due Diligence
- Tax Lien Certificates
- Purchasing a Tax Lien Certificate
- Foreclosure Litigation
- Tax Lien Redemption
- and More!
What is a Tax Lien?
A tax lien is a document filed by the federal government when you have unpaid taxes. The lien is placed on your property and though the government cannot seize the property as a result of a lien, they have placed themselves at the front of the line to collect it to make good on the debt you owe.
A tax lien is designed to protect the federal government’s right to collect the money that you owe them.
What Does a Tax Lien Mean for You?
If the government has placed a tax lien on your property, its impact will be felt across your finances. As soon as the lien is filed and documented with your local government, credit bureaus will be informed, and your credit will suffer.
For better or worse, you need healthy credit to buy a house, purchase a car, sign leases, and apply for loans. In some cases, bad credit can even hurt your chances at employment. Making sure your credit is in good health is very important no matter which stage of life you’re in.
Even if you are able to pay the debt in full, the tax lien will still remain on your credit report as “released”. This blemish can stain your report for 10 years. Having the lien removed entirely from your financial history is truly the best option, so call on a Essex, Maryland Tax Lien Attorney to help you.
Have You Purchased a Property With a Tax Lien?
When homeowners don’t pay their property taxes or any other type of taxes, tax liens can be applied to the property as stated above. If you go and purchase the property, you will inherit its tax lien, which means paying for it will become your responsibility. Before the property goes to a tax sale, you may need to consult with a legal professional to go over your options.
Have You Purchased a Tax Lien?
Experienced investors can choose to purchase a tax lien certificate during a property’s tax sale. The lien is then paid by the investor in full. The investor can then have the property owner pay them for the lien plus interest to make a profit. In the event the lien is not paid back to the investor by the predetermined deadline, the investor can then force a foreclosure on the home.
The foreclosure auction will be held to collect the money to pay the tax lien. In many of these proceedings, the investor who purchased the lien gains ownership of the property.
Looking for an Tax Lien Lawyer in Essex, Maryland?
Navigating the tax lien process is complex and requires a deep understanding of both real estate and tax law. If you’re looking for assistance with this process, call on The Law Office of Ross W. Albers to work through the case with you to maximize your profits.
We have experience with a variety of Maryland tax lien services—whether you’ve purchased a property with a tax lien or you’ve purchased the tax lien itself.
Contact us today for more information on our process and to set up your free consultation.