Property Tax Lien Strategy

[Samuel S.]

Hey BP Folks,

So I am looking to get into the tax lien arena, and was wondering how this strategy would play out:

Say I purchase a property tax lien at an auction, and the current owner ends up "defaulting" on the lien, and therefor I can foreclose on the house.  

Does this mean that I can technically keep the property?  What if there's an existing mortgage on the property for $100K?  My understanding is that the property tax lien takes priority over the mortgage, but I can't imagine that I would be able to keep the property and the bank would be left out to dry? 

Any advice would be greatly appreciated!! 

[Roland Thomas]

In Texas the homeowner has 180 days (6  months) to redeem. It should wipe out the mortgage "If it was included in the lawsuit of the filing". If the bank was included, they would have been notified of the delinquent taxes and should have taken care of it, at least in Harris County eyes.