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Delinquent Property Taxes

Property taxes help please?.

first of all i am 21 (young) and i don't know much about investing and so forth. i live in Louisiana and i recall someone telling me about delinquent property taxes. He told me that i can pay someone else's property taxes for 2 years and then the property is mine. I know its not that simple and theres more stipulations than that but i cant find anything that explains it to me better or helps me get started. So if anyone can give me in depth web sites or book titles i would be very thankful.

The way it works in most states that I know about. First, you have to go to an auction to bid on a property tax certificate. That means that you pay the past due tax...and the bidding is based on the amount of interest you are willing to receive...lowest number wins the bid. They after a set amount of time, you can force the sell of the property if the owner hasn't paid the tax and the interest due to you.

Then, the property will be sold at auction...if no one bids enough to cover the amount that you have invested (including the interest due) then you get the property.

BUT, if there is a mortgage company you can be assured this will not happen. It will be very rare that it happens without a mortgage company involved.

If it was that easy everyone would be doing it!

And, as far as those ads you see on TV. Ask yourself why they are willing to share their secrets with you (for a price) instead of taking advantage of them for their own gain. It is simple they are selling information. If it was true they would spend their time working their own program...not trying to convince you that it will work.

Hope this helps

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Fun and Profits in Tax Forfeited Lands part1

If my property taxes are delinquent can i do a property bond to get my friend out of jail?.

Your property taxes that are delinquent shouldn't affect the property bond. When you put your house up as collateral, most bondsman assume that you have a mortgage, which means their bond will go BEHIND that lien on your property. Taxes however, are before a mortgage. So deliquent taxes should not affect the ability to get the bond, however there may be equity issues if you owe more than your home is worth, etc.