If the property is not redeemed than as soon as it goes 3 years you can request a deed from the Treasurer.

http://www.nassaucountyny.gov/agencies/Treasurer/Annual_Tax_Lien_Sale/ann_tax_lien_sale.html#[/url]

This was a great website to stumble upon that will be a resource that you will treasure.

My only fear on LLC due-on-sale is if rates go to say 13% or so and thats when banks go on a treasure hunt of picking off folks who deeded to LLC. that may not be for 10 years.

I cannot give you legal advise, but I can give you my "non-legal unprofessional" opinion from my experience in buying tax deed property in Oklahoma.When you purchase a real property through a tax deed auction, and receive the treasures deed in the mail, the property belongs to you.

BP is a treasure chest full of resources.

Or call the county Treasurer and ask if they sell OTC.

– A MORTGAGE-FREE-PROPERTY" and "When the auction takes place, the county treasurer has the authority given by the state of California legislature to wipe out, that is, delete, completely extinguish the mortgage loan on the property."

Is your wife going to support your vision of turning trash to treasure?

In Cuyahoga County (Cleveland and surrounding areas) you can make a payment plan with the treasurer.