Tax Lien Foreclosure In Baltimore, MD
I recently bought two tax liens at the Baltimore county tax lien sale, and one of the county employees indicated that the homeowners often decide to redeem after I file a intent to foreclose claim to the circuit court.
My question is, do I need a lawyer to file the claim, or is there a step-by-step guide on how to foreclose on a property out there on the internet that I could use... Perhaps with a intent to foreclose template?
Thanks for any advice.
Anybody there?
loon,
According to common practice, the right of redemption is an interest in the property which the owner thereof may sell. Any party pruchasing the right of redemption may attempt to exercise it.
Has another investor ever tried to redeem the property out from under you? Have you ever considered approaching the former owner and purchasing his redemption rights?
From my readings, the redemption period for TX tax sale property is 24 months for homesteaded property, 180 days for all other property.
Sooo does getting the deed prior to the tax sale and buying the redemption rights both serve the same purpose??
In Louisiana the redemption period in 3 years or 18 months on a blighted property. So legally you can do nothing but wait.
Anyone???
Or do a quiet title.