Newbie Looking to Connect

[Jazzmine Johnson]

Hello Everyone !

I am new here but am interested in learning about buying properties with Tax Liens. When I pay the tax lien does that mean that I have to pay a mortgage on the property as well?

[Ned Carey]

@Jazzmine Johnson welcome to BP.

Tax sale laws vary tremendously from state to state but generally a tax lien foreclosure wipes out any mortgage or other debt attached to the property. The reason for this is the bank or anyone else that has an interest in the property is notified and they have the chance to redeem.

Tax liens can be a great way to get houses at bargain prices. But right now is not the best time. The competition is fierce and the high bids make most properties barely worth the trouble and potentially money losers.

As @John Underwood said there is a lot about tax liens already written here. If you have a specific question it is best to say where you will be investing since the rules vary so much.