Government Tax Foreclosure Auctions
August 10th, 2008
Government Tax Foreclosure Auctions
Question: tax foreclosure house?
i kind of understand that this means they take away homes from people who cant pay the mortgage, and the government wants the tax. then they auction them for only a couple hundred dollars plus the taxes which are only a couple thousand. so do they really sell these houses for under $1000 because when i look they cost normal price. how can i find the cheap houses.
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Answer: in my state, Illinois. tax sales are held yearly. People who don't pay their taxes do loose their home. The mortgage company has to be up on these or they could loose out too.
If you buy a tax property here the owners still have two years before you can take possession. Have a big dealer in our area that has made bundles. The sales I have been to were kind of sham as far as i was concerned.
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