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Updated over 7 years ago,
Clarification on Massachusetts law on tax certificates
I'm looking for clarification on specific laws in Massachusetts regarding delinquent property taxes and tax certificates.
1) True or false... delinquent property taxes are only available to be purchased 1 year after the debters failed to pay?
2) I have read that Massachusetts has a set interest rate of 16% on tax certificates whether they are redeemed in a day, or a year. I've also read that this number could be around 1.25% per month with a total annual return of around 16%.
3) True or false... all properties have a 6 month redeemable period before the foreclosure process can commence unless the house is abandoned/vacant raw land... then the investor can immediately start the foreclosure process.
I apologize in advance if these answers are easily available but I have been scouring the internet with multiple different outcomes of "facts". I'm a new real estate agent looking to build a solid foundation the first time around if possible :)
Eric