Posts Tagged ‘foreclosure’
Is buying a property tax lien always a ‘win-win’ bet?
Question: Our son recently graduated from college with a finance degree. He is convinced that the way to make a fortune is to buy property tax liens for ‘pennies on the dollar’ at the auctions by the treasurer’s office for delinquent property taxes, held every year in February. Our son says that if, after at…
Read MoreHomeowner Association Lien Typically Lost By Foreclosure
Question: A homeowner in our Glendale community has not paid the monthly HOA fees for more than a year, and our HOA now has a lien of $8,000 for delinquent monthly HOA fees. The HOA president recently received a notice of foreclosure from the homeowner’s mortgage lender. If there is a foreclosure by the homeowner’s…
Read MoreWeighing Options for Seller with Carryback Loan on Land
Question: In one of your columns a buyer had purchased forty acres of land in northern Arizona (“Forty Acres”) with financing for the purchase of this Forty Acres by a seller-carryback $200,000 five-year mortgage loan. After five years, however, there had been none of the anticipated development in the area, and the Forty Acres was…
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