I want to know more about tax liens

B

Buffalo

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While researching the foreclosure houses, I came across tax liens. I understand it is what people own to the government against their house. It looks like one can buy a tax lien and the homeowner has maybe a year to make good on their tax debt. If the homeowner failed that, the house can be passed to the tax lien buyer???? Tell me more about it, especially pros and cons. Thanks!
 
Usually those shows up in the Local Newspapers. Those homes are open for you to buy if you pay off the tax lien and interest. Some of those homes are auctioned off.
 
Babyblue said:
Usually those shows up in the Local Newspapers. Those homes are open for you to buy if you pay off the tax lien and interest. Some of those homes are auctioned off.
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Don't you lose the house if the original homeowner made good on the tax/interest or filed lawsuit to reclaim the house??
 
Buffalo said:
Don't you lose the house if the original homeowner made good on the tax/interest or filed lawsuit to reclaim the house??
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Nope.. once it is sold to you.. It is yours. The home owners get plenty of warning. I have to look it up to make sure. but I have never seen my father in law lose one yet. He buys then and resells them. Also he rents them out.


I will ask him more about your two threads. And perhaps give you a few good websites to look at.
 
Babyblue said:
Nope.. once it is sold to you.. It is yours. The home owners get plenty of warning. I have to look it up to make sure. but I have never seen my father in law lose one yet. He buys then and resells them. Also he rents them out.


I will ask him more about your two threads. And perhaps give you a few good websites to look at.
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Great! And I look forward to that.
 
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