[hiknapster]

When do you get the 20 percent?

We knew someone in Florida that didn't pay his taxes and someone came along and paid them, and the property owner said that because this guy paid his taxes, the tax certificate holder could take his house.


I was really confused. I still am.

[tallrick]

Originally Posted by hiknapster

When do you get the 20 percent?

We knew someone in Florida that didn't pay his taxes and someone came along and paid them, and the property owner said that because this guy paid his taxes, the tax certificate holder could take his house.


I was really confused. I still am.

That cannot be right. You have to get at least two tax lien certificates and the county can initiate a sale. If someone paid the taxes for him no certificate was issued, therefore he has no lien. The current owner could say that the other person was an authorized agent to make the payment. A friend had this happen to his grandmother, when all was said and done the "investor" lost his money . His only alternative was a lawsuit, it never happened.

[V1-P]

No to the subprime freeze in my opinion. Freezes only mean governmental intrusion. Let those who can, sink or swim. A good example of this is Citi. Why should Americans bail out Citi? Would Citi help bail you out? I think not.

Agree in principle with you tallrick. As for the lawsuit on the land, due diligence in 99% of the cases, would reveal this possibility BEFORE the bidding. If you go to your local building and planning department, you can obtain growth projections usually for the next five years. If you buy vacant land in a projected growth area, you can capitalize on your investment. I believe the bubble already burst and there is a lot of evidence to that thought.

Vacant homes or commercial property - Commercial property may not be a good investment right now, at all. Not knowing the political turns of the up and coming election for one. Some parties are more pro business than others and commercial investments are better in a pro business administration. Vacant homes can be tricky and I am cautious. The property appraiser's site can give good information with repairs but buyer beware. Plus, the lowering interest rates devaluing the dollar spells trouble on all levels.

As for the property that burned down, if I owned the certificate and I thought it was valuable property, I would seek out an insurer to insure my interests in that property based on my certificate.

[hiknapster]

No. They didn't pay the taxes FOR him. It was one of those tax certificates that someone paid. He thought the people could take his house since they paid the taxes and got the certificate.

Oh, and the UAE helped out Citibank.

[CJFlorida]

Originally Posted by MINNIEMEME

Sub-prime 5 Yr Freeze ?

The entitlement/never take responsibility attitude continues. And next week, when they cut interest rates another half point, those of us who are savers and thought their way through this housing mess will be slapped once again.

[tallrick]

Originally Posted by CJFlorida

The entitlement/never take responsibility attitude continues. And next week, when they cut interest rates another half point, those of us who are savers and thought their way through this housing mess will be slapped once again.

You think the FED has the nerve to cut interest rates again?? Hello hyperinflation, goodbye savings... Who in the world is going to buy all this discounted debt?

[CJFlorida]

Originally Posted by tallrick

You think the FED has the nerve to cut interest rates again?? Hello hyperinflation, goodbye savings... Who in the world is going to buy all this discounted debt?

Every day for the past week CNN/Money's front page has touted how "investors are expecting" another rate cut next week. The market goes up a little and it is "anticipation of a rate cut". They are basically saying if they do not get the expected cut, the market will fall a ton. Gee, now what Bernanke, hmmm let me guess.

Disgusting. Another attempt to prolong the inevitable.

[Wild Style]

^^

Go for the short sale if you can't make the payments

[V1-P]

Their incentive to keep the house is called personal responsibility. You made a promise - keep your word.

If people think they are saving because they have money in the bank, that isn't a good place to invest.

As for those investors looking or another cut from the fed - those investors are mainly stock market investors - not necessarily real estate investors.

[V1-P]

To the comment of someone paying someone else's taxes. If you pay the taxes for someone else there is no tax certificate issued, tallrick is right. If you wanted to recoup the money you paid for that someone else's taxes, you could put a lien on the property (but know liens expire even federal liens expire) or you could go to small claims court.