Re: tax lien certificates - Posted by Ben
Posted by Ben on February 08, 2000 at 06:52:53:
Dan, the competition IS fierce…for those wanting to make the interest. The people who want to own property have almost no competition. I have been buying liens for five years and specifically target good properties
with mortgages, as do most of the bigger buyers. The board-ups and problem properties and a lot of the inner city properties do not even get purchased, the liens end up going back to the town. As far as the banks covering their mortgages, surprisingly many of them do not. I have roughly a thousand liens, the vast majority of which have mortgages. I sneak right in front of the mortgage holder in priority so when push comes to shove if the property owner cannot pay then the mortgsge holder must. You have a good angle, keep at it!