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68117 : Real Estate Advice

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Wed Feb 4, 2009
Dean Uhing answered:
I checked on the property you are referring to. The notice indicated that the property is "subject to tax liens, bankruptcy, foreclosure and special handling". The notice also said to call 444-7272. I recommend that this be the first course of action. Obtain the necessary information so you know what decision to make.
Visit with you attorney regarding any decision you make so that your legal rights remain protected.
What may happen? The county can sell your tax lien at a public auction. Whoever purchases the tax lien will pay the tax amount. You will have to pay them back at 14% interest ( I think this is the current rate). If you do not pay them back after three years they can foreclose on the property and sue for clear title.
Hope you can find the necessary funds to protect your title, equity and interests.
Dean Uhing
Prudential Ambassador Real Estate
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