Property Tax Foreclosure Oakland County Michigan
Oakland County Tax Foreclosure Timeline
Tax foreclosure deadlines in Oakland County MI are based on a 3 year timeline. In other words, from any tax year, you have 3 years to pay all back due taxes, fees and interest before your home is foreclosed on.
For example, the following Tax Foreclosure Timeline for Oakland County MI is based on tax year 2020. The first major milestone coming in March of 2021.
March 1 2021 (+1 year from the tax year in question)
- The unpaid property taxes become delinquent and are payable to the Oakland County Treasurer’s Office.
- 4% administrative fee
- 12% interest accrues per year
- $15 notification fee on Oct. 1
March 1, 2022 (+2 years from the tax year in question)
- The property is forfeited to the County Treasurer.
- $236 minimum fee
- 18% interest rate per year retroactive to Mar. 1 of the previous year.
June 1, 2022 – January 31, 2023
- $39 property notification visit
- $15 mortgage lenders, banks and lienholders notification
- $10 newspaper notification
January or February of 2023 (+3 years from the tax year in question)
- The Oakland County Treasurer will conduct an Administrative Show Cause Hearing.
- A Judicial Foreclosure Hearing also will be held where the Judge signs the foreclosure order.
March 31, 2023
- Last day to pay all delinquent property taxes to retain property ownership and prevent foreclosure.
April 1, 2023
- Property is foreclosed for unpaid taxes.
July 1, 2023
- Former property interest holders must submit their intent to claim sales proceeds and become a claimant.
July – November, 2023
- Property is sold at auction.
- Oakland County Treasurer’s Office notifies claimants of sale proceeds, if any.
February – May 2024
- Claimant must file a claim with the Court.
- Court determines priority of claims, amount and issues order.
- County Treasurer remits payment within 21 days of court order.
The Effects of Tax Foreclosure in Oakland County Michigan
- Loss of your home – Pretty self-explanatory here. The major result of a tax foreclosure in Oakland County Michigan is the loss of your home.
- Decrease in Your Credit Rating – Your credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is. The higher your current credit score, the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points.
- Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least.
- House Values In Your Community – Another one of the big foreclosure effects in Oakland County MI is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.
How Can You Avoid a Tax Foreclosure in Oakland County MI?
For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.
Call your county and work with them
Oakland County can offer payment plans, assistance and more if you fall behind on your property taxes.
- Oakland County Treasurer Tax Foreclosure Prevention
- Book a consultation with Oakland County’s financial counselors to discuss your situation
Pay Your Back Taxes
This is an obvious one, but certainly an option. You can cough up the money to pay your taxes and all fees due. You can pay your Oakland County delinquent property taxes by following these instructions:
- Use our Drop box located at 1200 N. Telegraph Rd., Pontiac, MI 48341 (South side of the County Courthouse)
- Send via U.S. Mail to 1200 N. Telegraph Rd., Pontiac, MI 48341
- Visit their website at oakgov.com/treasurer and click on “Pay Now”
- Call their office at (248) 858-0611, option 2
- Make a payment in your community at participating local retailers. Contact their office at 248-858-0611 or at [email protected] to receive a bar code
Sell your property to a local investor like us
If you’d rather find a way to sell your house and avoid the foreclosure process all together, we can help! I can’t speak for all investors in the area, but we will pay off your back due taxes and give you cash for your property. If you don’t want to stay in your home, I believe this to be the easiest route.