Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Monday, August 08, 2016
Maryland's Little-Known Annual Property Tax Credit Saves Baltimore Homeowner's Paid-Off Home From Possible Real Estate Tax Lien Foreclosure
In Baltimore, Maryland, WJZ-TV Channel 13 reports:
Achieving the American Dream of home ownership comes at a price. For some, that price is too high. Now a local consumer group is spreading the word about a little-known tax credit that can mean the difference between keeping or losing your home, WJZ’s Amy Yensi reports.
Loretta Jefferson packed the last 20 years of her life into boxes, fearing she would lose her home. “I was anxious. I was thinking, ‘Well, where am I going to live now?'” said Jefferson.
The 69-year-old retired secretary paid off her Brooklyn row home, but couldn’t make ends meet to pay the taxes. That put her at risk of a tax lien foreclosure.
“Oh my gosh. I’ve been in this house all these many years. And now for about $1,000 or so dollars, I’m going to lose my house,” said Jefferson.
In a last-ditch effort, she applied for the Homeowner’s Property Tax Credit. A few weeks later, she got the news she had been hoping for. “One thousand and two hundred two dollars and ninety seven cents,” Jefferson said.
The tax credit has been around since 1986. Most homeowners who qualify don’t even know it exists.
“Of the people that were seen, that were in danger of tax lien foreclosure, ninety percent–had they taken the credit–would have been able to save their homes,” said Marceline White, who runs the Maryland Consumer Rights Coalition.
White says Baltimore City and Prince George’s County have the highest foreclosure rates in the state, and this renewable tax credit of up to $1,200 a year can be a big help.
“To qualify your home has to be valued at $300,000 or less and your income has to be $60,000 or below,” said White.
To earn the Homeowner’s Property Tax Credit for 2016, you must apply by September. To learn how, CLICK HERE or call 211.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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