What is the name of your state?What is the name of your state? Nevada
I purchased a tax lien in Nevada last Dec. 2003. This Dec 2004, I received a letter saying that the property has been foreclosed by the bank because the owners have not been paying their mortgage. What happens to my tax lien when the bank sells the property? I can only claim the property in Dec 2005 if the owner does not pay back what he owes in property taxes. What should I do now? Do I get the house in Dec 2005 if he doesn't pay his back taxes? I don't think I can get the house because he owes the bank money and the bank might just sell the house to recover their investment. In this case, whatwill happen to my tax lien? Will I lose the money?
What happens if the owners declare bankruptcy? Do I lose my money then?
Thanks.
I purchased a tax lien in Nevada last Dec. 2003. This Dec 2004, I received a letter saying that the property has been foreclosed by the bank because the owners have not been paying their mortgage. What happens to my tax lien when the bank sells the property? I can only claim the property in Dec 2005 if the owner does not pay back what he owes in property taxes. What should I do now? Do I get the house in Dec 2005 if he doesn't pay his back taxes? I don't think I can get the house because he owes the bank money and the bank might just sell the house to recover their investment. In this case, whatwill happen to my tax lien? Will I lose the money?
What happens if the owners declare bankruptcy? Do I lose my money then?
Thanks.