'It was tragic for us,' says woman whose family home was seized & sold over $808 taxes – there was nothing she could do | AI6B2NU | 2024-03-24 19:08:01
Patricia Miller has spoken out concerning the "tragic" lack of her childhood residence in
A WOMAN lost her family house after it was bought for just $16,000 resulting from unpaid taxes of $808 that increased after the house was seized.
Patricia Miller has spoken out concerning the "tragic" lack of her childhood residence in Arizona after the demise of her father Devoe Poleeson.
After Miller's father died in 1999, his two sons lived there, but might solely intermittently pay the property taxes.
A decade after Poleeson died, a personal investor from Utah discovered that $808 in property taxes had gone unpaid and legally seized the home.
"It was principally on account of the fact that the surviving members of our family have been unable to pay the property taxes annually," Miller explained to AZ Central.
Due to the amount the family had not paid in property taxes, buyers or banks are then capable of buy the debt within the form of a tax lien.
The householders are then required to pay the tax debt and the interest to the investor or bank who then make a profit.
If they will't pay, then the residents will lose their homes as well as the equity they have accrued.
"My two brothers lived on the property and we had discussed what might be carried out to maintain the property," Miller stated.
The youngsters had beforehand struggled to promote the property as a result of their father didn't depart a will.
This meant that these dwelling there paid the property taxes as and once they might.
Miller defined that the property taxes on the time ranged between $700 and $800 per yr.
<!-- End of Brightcove Player --> "Which actually isn't an entire lot however they didn't have an entire lot of revenue," she stated.
In 2007, the tax lien on the property was bought at public sale.
When no relations redeemed the lien the debt continued to pile up at an interest rate of 16%.
They have been then required to pay the tax debt to the investor together with the 16% interest.
HUGE LOSS
"I hadn't realized how extreme the back funds have been, I imply the amount till I feel it was too late," Miller stated.
"My brothers at that time did lastly speak to me and show me the final bill by that time it was within the few thousand and there was simply no approach I might even assist with that.
"It was tragic for us as a family because we grew up in that residence it was a brand new house once we moved in in 1961.
"We grew up there. All of our reminiscences are there."
<p class="article__content--intro"> Foreclosures can happen when lenders take control of a property after borrowers have did not make their repayments. </p> </div> </div> "Every little thing occurred there and it's just a loss that we couldn't actually do about," she added.
The investor foreclosed the property in 2010 and bought it for a meager $16,000 when actual estate was struggling.
Simply eight months later it was bought once more for $54,900.
"The worst part that upset me was finding out that it went for hardly anything," Miller stated.
"Just remember that something like this can occur should you don't care for your duties and get these taxes paid," she warned others.
The tragic loss for the household obtained worse when their house bought for simply $16,000 and was re-sold months later for over $50,000[/caption]
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