This is the rare exception, not the rule - Posted by Ben (NJ)
Posted by Ben (NJ) on November 07, 2000 at 07:33:57:
3 years ago I bought a tax lien on this property. It is a nice single family home in a good neighborhood and had a six figure mortgage on it. This is the type of lien that has a 99.9% chance of redemption. After two years I began foreclosure proceedings and discovered that the mortgagee (private) had passed away. Normally if the owner cannot pay off the lien, the mortgagee will usually redeem. However, since they passed away, the lien never got paid. Why the owner never did anything is a mystery. The owner personally signed for all process service. Never got an attorney, never filed BK, never put the house up for sale, never called me for an extension, NOTHING! I did get a call from a neighbor about riff-raff coming in and out of there. Maybe they are on drugs. It’s coming down to the wire and still no indication of being paid so I have to assume I am getting it and plan accordingly.