What does it mean for my property to bin in Forfeiture?

Forfeiture is the beginning of the foreclosure process. If your property is in forfeiture, you still have 13 months before it will be foreclosed. However, the interest and fees will be higher. When a property is forfeited, the interest rate goes from 1% per month to 1.5% per month, back to the date the taxes became delinquent. Fees of at least $285 are added in the forfeiture and foreclosure process. A notice of forfeiture is recorded with the Register of Deeds.

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1. If I don’t pay my taxes, will I really lose my house?
2. What is a delinquent tax?
3. What happens after the property is forwarded to the county treasurer for collection?
4. What does it mean for my property to bin in Forfeiture?
5. What happens after my property is in forfeiture?
6. What is foreclosure?
7. Can I get my property back if it is foreclosed?
8. Will I receive any notice before my property is foreclosed?
9. I don’t have to worry about losing my property yet. Why not wait and pay my taxes later?
10. What if I don’t have all the money right now?