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After winning the tax lien auction and paying the promised amount + miscellaneous expenses, such other financial obligations, investors privilege to have you set the property during the period of 1 year if the refund is a loan outstanding at the property?
T L
November 8th, 2009 at 7:49 pm
words_that_live_on is completely wrong and obviously has not already purchased a tax lien.
You have no financial obligation whatsoever on this piece of property. You become a lienholder on the property. This means that if the current property owner wants to transfer ownership (sell) or refinance the property, he must pay you, and all other holders of liens, in the first place.
Thing is, if the owner does not pay off, and next year the taxes are not paid either, you have first Dibs on them. If this happens for 3 years you can petition the county to own. There are some forms to fill certain accruals, and the time to wait. In addition, the creditor can go ahead and pay you off so you do not lose their investment.
Do not expect this to happen, however, is a shot long enough to finish this – maybe a thousand.
trblmkr3
November 8th, 2009 at 8:21 pm
You win the monthly bill for the mortgage that is enclosed within the real estate now. If you do not pay taxes for the mortgage company must CUS that really belongs to them.