Posted by Ben (NJ) on March 08, 2000 at 12:17:42:
Mary, I am a tax lien foreclosure attorney in NJ as well as an investor. I find it hard to believe that the mortgage holder is walking away from a $161,000 investment over a $4,000 lien. Are you sure the sale is not for the CERTIFICATE and not the property? if so, this means the certificate is merely changing hands from the municipality to a private investor and can (and will) still be paid. Also, in NJ state income tax liens have priority over property tax liens but
this would depend on your state’s laws. Why not bid on the certificate or the deed at the tax sale?