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When people cannot pay off their mortgage loan, their homes turn into tax foreclosure properties. When this happens, a court order is sought after to eliminate the mortgage and the buyer’s right to repurchase his house. The house is then sold at a fraction of the price or sold off at auction. Foreclosure investment refers to purchasing properties that were foreclosed. Investors can often pick up properties at 50 percent below their market value, or even lower. Continue reading

Tax foreclosure properties are properties that are auctioned off to the open market. These properties occur when a homeowner fails to pay their real estate or the property taxes associated with that address after three years. The property is then allowed a two year redemption period in which the owner is expected to bring the account current. If the account is not made current within the two year period, then the property is deeded to the county. The properties are then placed in auction and sold to the highest bidder. This bidder buys the rights to the property, as long the tax liens are not paid. Continue reading