Comments on: I want to get into buying tax liens, any suggestions? http://taxlieninvestingnews.com/questions-and-answers/i-want-to-get-into-buying-tax-liens-any-suggestions/ Current news on Tax Lien Investing Tue, 07 Feb 2012 11:56:21 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Ambivalence http://taxlieninvestingnews.com/questions-and-answers/i-want-to-get-into-buying-tax-liens-any-suggestions/comment-page-1/#comment-264 Ambivalence Wed, 13 Jan 2010 08:54:29 +0000 http://taxlieninvestingnews.com/questions-and-answers/i-want-to-get-into-buying-tax-liens-any-suggestions/#comment-264 couple stupid errors on my part, hardly worth 2 points to resolve, so I'll blast... Depends on the "State"... In most states, you can purchase the tax lien; however you will only be entitled to premium and guaranteed interest. Or in lets say IL, you can buy the tax lien and if it doesn't get settled within the redemption period (2 years), title is transferred to tax lien buyer, but you will have to evict and tenants are hardly nice to the property... In other states (AZ), you buy the lien, you own it - but typically the "Lender" will redeem the lien since they are not going to give away their security (this typically again only grant you principal and interest above prime)... Anyway, your evil plan to take over the world is state specific. I am aware that there is a scheme in which people or investors hunt down errors in landlines and buy the slits and then foreclose on them - this will cause an encroachment issue and/or slander of title and quickly turns into a litigation hassle, usually, you'll get some settlement - this is a "JERKY" thing too do! so mind your manners, people are dangerous and when it comes to money, they do funny things - don't think you will be able to move in on monday... couple stupid errors on my part, hardly worth 2 points to resolve, so I’ll blast…

Depends on the "State"… In most states, you can purchase the tax lien; however you will only be entitled to premium and guaranteed interest. Or in lets say IL, you can buy the tax lien and if it doesn’t get settled within the redemption period (2 years), title is transferred to tax lien buyer, but you will have to evict and tenants are hardly nice to the property…

In other states (AZ), you buy the lien, you own it - but typically the "Lender" will redeem the lien since they are not going to give away their security (this typically again only grant you principal and interest above prime)…

Anyway, your evil plan to take over the world is state specific.

I am aware that there is a scheme in which people or investors hunt down errors in landlines and buy the slits and then foreclose on them - this will cause an encroachment issue and/or slander of title and quickly turns into a litigation hassle, usually, you’ll get some settlement - this is a "JERKY" thing too do! so mind your manners, people are dangerous and when it comes to money, they do funny things - don’t think you will be able to move in on monday…

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