Re: OT---BUYING UP PROPERTY TAXES

Posted by kyhayman on December 25, 2003 at 17:26:04 from (152.163.253.66):

In Reply to: OT---BUYING UP PROPERTY TAXES posted by lenray on December 25, 2003 at 11:50:32:

It sounds like your state is similar to Kentucky. Other states (as mentioned by some other folks) actully sell the property. Here they sell the tax bill, person who buys it gets a lein on the property and can set their own interest rate and/or file to collect in court through wage garnishment but can not force the sale of the property. If the property ever does sell (or goes into probate at owners death) you get your money and interest. I've thought about it but it seems like a good chance to tie up a lot of money with unsure repayment. I know some folks that never pay taxes, they have a bunch of folks on the deed (literally, one has 34). I decided not to do it, way better returns on buying rental property (or even stock in blue chip stocks). Cd's are safe, there's always risk to getting greater returns.

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• Re: Re: OT---BUYING UP PROPERTY TAXES wayne 21:18:27 12/25/03 (0)

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