How to Foreclosure Tax Lien Properties?

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HOW TO FORECLOSURE TAX LIEN PROPERTIES?
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CONTENT
INTRODUCTION
HOW TAX LIEN FORECLOSURE WORKS?
TAX LIEN ROI
JUDICIAL FORECLOSURE
NON-JUDICIAL FORECLOSURE
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INTRODUCTION
Tax lien foreclosure signifies the legal transfer
of property ownership, due to the owners failure
to pay backtaxes. The State government can
foreclose a property, when the owner fails to pay
property taxes, sales taxes or other State income
taxes.
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HOW TAX LIEN FORECLOSURE WORKS?
A tax lien foreclosure is one of two strategies a
State administration may use to address reprobate
backtaxes on property.
Tax lien certificate issued by the State
authorities to investors during the auction
represents the temporary holding of lien property.
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TAX LIEN ROI
The liens are placed by State authorities and the
lien certificates are sold in the primary market
with proper auction process. Investors can gain
high interest rate from the home owners by buying
tax lien certificates.
The interest rate may range from 15-17 depending
upon the State Government. The property owner
will be given probation time to settle the
principal tax amount plus the required interest
amount with the lien holder.
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JUDICIAL FORECLOSURE
Judicial Foreclosure takes place when the lien
holder files lawsuit against the property owner
due to his negligence to pay the tax amount.
In foreclosure by sale method, the property will
be auctioned by the court with lien holder
placing the first bid.
In Strict foreclosure method, the court moves the
complete ownership to the lien holder without any
auction.
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NON-JUDICIAL FORECLOSURE
In Non-Judicial foreclosure method, the lien
holder can advertise and sell the property at
public auction without court intervention but
with specific rules of State authority.
This process is also known as statutory
foreclosure.
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