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Boardwalk :: Forum List Tax Liens General Discussion
overbeyro
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Posts: 1
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 Clarification - 2007/09/23 22:39 Hello,

A little on me first. I am married and my husband and I have been very interested in real estate for a long time. We just dont know what would work best for us and how to get started. We have purchased other "programs" without luck. Now I am making sure I get more information and details before we make another commitment. We are in California.

Ok, let me see if I have this straight. 1) You pay off taxes owed on a specific property. 2) you give the owners an amount of time to pay you back with interest. 3) If they do not pay then the property goes to auction where you and other investors can bid on it. 4) This is where Im a little confused....If there is a mortgage on a property you have won a bid on does that mean that you have more rights to the property before the mortgage company? 5) Can you evict, clean, fix and sell the property as you wish even if there is a mortgage on the property?

Thank you,

Robin
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Luanne
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Posts: 70
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 Re:Clarification - 2007/09/24 14:43 Hello Robin,

Thanks for your interest in TaxLiens.com. It looks like you are on the right track. The tax lien is a senior lien meaning it does have more weight than the mortgage. The mortgage company does have a redemption period where it can re-claim the property, but if this time lapses then the tax sale owner is then given full ownership. When this time has elapsed you are then allowed to do whatever you wish with the property.

Hope this helps.

Thanks,

Luanne
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Boardwalk :: Forum List Tax Liens General Discussion

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