Tax foreclosure overages...

[Clifton Burse]

Hello, Im looking for any help in getting started in Tax overages, I don't want to buy a $1000 course about it. Hopefully some help if someone knows about how to do it in the states of Maryland, DC, or NOVA....

[Ned Carey]

@Clifton Burse These are not as easily done as the pitches for courses imply. Assuming you can find the list of overages due, you still have some issues to deal with. Who is the rightful claimant? If the owner has a mortgage the mortgagee is in line before the owner. Good luck trying to get a fee out of a bank.

If an owner does not claim the surplus it is often becuase they have moved and can be difficult to find. Often the amounts unclaimed are only a few hundred dollars and not worth the work of running around to get it.

Your best course of action may be to talk to an attorney who does tax sale foreclosures. You will need to have agreements written up between you and the owner that will pass the muster of both the jurisdiction who is giving out the money and the courts if the owner decides after the fact they don't want to pay you.

It can be a very profitable business, I just want you to have realistic expectations. Good luck - Ned

PS My guess is that any course is not going to give you enough specific information for your local area. Which is why I suggested a local attorney who does tax sale work.