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Updated over 8 years ago on . Most recent reply
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County property auction sales
LA county property auction sales are coming up next month. I head property tax liens takes the first place over the other mortgage liens. How do we figure that out ? Even if the property tax liens takes precedence, once the property tax lien is paid off, should the mortgage lender come back to get their dues ?
I want to make sure how does this works if we buy the property at property tax auction sale ?
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I'm reading a book right now I would recommend. It's call Zero Risk Real Estate by Chip Cummings. It's all about how to buy tax deeds and tax liens. I'm still such an amateur I couldn't give you much advice. But reading books on the topic helps. What I gather so far is that taxes are always first in line. I think if you buy through a tax sale, anything you pay over and above the taxes due may go towards paying the mortgage. But I don't think you would owe anything for the mortgage. Maybe someone more experienced will jump in?