foreclosure and tax deed! - Posted by Bill H
Posted by Bill H on August 15, 2005 at 22:42:46:
As Max-VA said, if there is enough in the deal go ahead and try your hand at sub-2.
As to tax liens…they are the most senior lien against your property. They will wipe everything junior to them off the title with some exceptions for various states. The IRS, if a lienholder, has an automatic 120 day Right of Redemption.
I do tax deed/lien/certificate investing…and what will happen 99.9 percent of the time is that the mortgagee will step in and pay the taxes at the last minute to avoid being wiped from title.
The person who buys at the tax sale will get it for taxes if the mortgagee does not step up and redeem before it matures to the tax lien purchaser.