Workflow
Hey guys,
Would you be so kind to verify my understanding as far as how tax liens work?
1.Purchase certificate at steps
2.Hold for 12 months (redemption period)
3. If redeemed, homeowner must pay auction price plus 20%
4. (This is where it gets hazy for me)
If not redeemed, investor begins foreclosure proceedings through 1st mortgage holder, forcing them to the steps
Question:
1. Where does the mortgage co. fit into all of this?
:-? :-? :-?
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