Property Tax Foreclosures are up too

Serving Waukegan, Libertyville, Lake County, Gurnee & nearby areas of Illinois

The news has been filled with many stories the past few years about mortgage foreclosures and their effect on families and the economy. Less well known but equally significant is the number of property tax foreclosures taking place.

In Illinois, your property taxes will be sold at an auction if they go unpaid. The successful bidder receives a certificate which becomes a lien on the property superior to almost all other liens. After a period of time set by statute, the certificate holder may petition the court to take over ownership of the property if the delinquent taxes, late fees, interest and penalties are not paid.
Our firm represents many tax buyers in the Chicago area. We also represent property owners to try and help them prevent the loss of their property or, in some cases, to receive compensation if they lose their home.
The tax sale process is very complicated and many lawyers do not have a full grasp of how it works. If you need assistance resolving any matters relating to delinquent property taxes, the tax sale process or property tax foreclosures, do not hesitate to contact us.