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Does anyone know about investing in tax lien certificates? I know a little about them, but I am still a little confused. For one, it seems to me that if someone has been failing to pay their property taxes, there is a high chance that they have not been paying their mortgage either. In this case I imagine the mortgagee has priority over the property. Therefore if the homeowner does not pay off the tax lien or the mortgage, and the bank forcloses before the leinholder, does the lienholder get screwed? Also lien investing seems like it takes a lot of work. Is it possible to make a living off lien certificates without a massive starting fund (tens of thousands rather than hundreds of thousands)? What are the risks in investing in lien certificates? I refuse to believe believe that they are "Risk Free" like these online gurus are trying to tell me.

thank you, you have all been very helpful. A couple more questions though. What is acceleration (like i said, I very new to this)? Is a contract usually necessary? If so, is there a way to make one without a lawyer?

thanks again.

Thanks for your help Doc,

Well, with that being said, do any of you mortgage experts out there know which banks in particular (preferably in the NY/NJ area) that do not have assumption clauses? Also, with that information, how would I go about initiating an assumption? How much liquid capital would one need for such a thing? What should I look for when researching potential properties to assume? Again, any information beyond that would also be greatly appreciated. Thanks a lot.

Hello everyone, I am completely new at this, just began researching different aspects of REI a few days ago, so bear with me if i seem like a numskull.

I have been able to find information on most RE subjects online, but I am having trouble with one in particular. I heard through an aquaintance, whom i can no longer get in touch with, that it is possible to create a deal with a homeowner, who has missed a couple of mortgage payments and is in danger of foreclosure, to give a cash incentive and take over his payments to the lender and he signs over the deed to his house. Basically, I am wondering if this is legit? do people actually do this or was my aquaintance just blowing smoke up my bum? if so, what is the legality behind it? is it possible for a borrower to simply transfer his loan into someone else's name? I appreciate any and all information you all can give me on this topic. Thanks for your time.