The homeowner is given a "redemption period" (often 1–3 years) to pay you back with interest. Interest rates can be quite high, sometimes ranging from 5% to 36% depending on state laws.
When a homeowner fails to pay property taxes, the local municipality can issue a . Investors purchase these certificates at public auctions.
While tax liens are the most common for investors, other types of liens can be attached to a house: How To Buy a House With a Lien | Own Up Resources
The homeowner is given a "redemption period" (often 1–3 years) to pay you back with interest. Interest rates can be quite high, sometimes ranging from 5% to 36% depending on state laws.
When a homeowner fails to pay property taxes, the local municipality can issue a . Investors purchase these certificates at public auctions.
While tax liens are the most common for investors, other types of liens can be attached to a house: How To Buy a House With a Lien | Own Up Resources
