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Boardwalk :: Forum List Tax Liens General Discussion
bxhmong
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 need more info... - 2007/09/17 07:41 hi, i'm new to all this stuff and i was wondering...if a tax deed is sold, do the buyer of the tax deed takes over the mortgage that was left behind?
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Luanne
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 Re:need more info... - 2007/09/17 16:29 Hello TaxLiens.com User,

Thank you for your question. No, if you are the buyer of a tax deed property you are not responsible for taking over the mortgage.

If there is a mortgage, most likely they will reclaim the property within the redemption period.

Thanks,

Luanne
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bxhmong
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 Re:need more info... - 2007/09/18 08:18 so before it can be a tax deed property, the owner of the property has to pay off the mortgage? and then the tax not paid by a given time, the property will be a tax deed property?
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Luanne
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 Re:need more info... - 2007/09/18 14:14 Hi,

No the property owner does not have to pay off the mortgage. This is why tax deed properties are so lucrative. Many tax deed properties are paid in full- or the mortgage holder is unaware of the situation.


Thanks,

Luanne
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Boardwalk :: Forum List Tax Liens General Discussion

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