Quote:
Originally posted by HowlingWulf
They're called tax liens. You pay the back taxes owed on the property for the owner. If the owner doesn't pay the back taxes and the bank holding the mortgage doesn't pay the taxes (very rare) after a period of time then you can apply to get title, with usually a 2 year redemption period for the original owner to reclaim. If they do pay you get your money back plus the interest rate set by the state you bought it in. Yay. There are many pitfalls to avoid if you pursue this route which I won't bore you with. Not for the inexperienced.
|
so you can't sell the property to someone else for 2 years?