Buying Tax Lien On Bank Foreclosed Property
I live in Alabama and have just purchased a tax lien certificate at a tax sale. The property has been foreclosed on already by the mortgage company from the previous owner. The mortgage company paid the 2007 taxes but refused to pay the 2006 taxes. Someone told us that a mortgage company only has one year to redeem. Is this correct?
I think the redemption period would be set by state law. A call to the county treasurer should give you the answer.
Quote:
On 2008-06-12 14:43, ssharp2006 wrote:
I live in Alabama and have just purchased a tax lien certificate at a tax sale. The property has been foreclosed on already by the mortgage company from the previous owner. The mortgage company paid the 2007 taxes but refused to pay the 2006 taxes. Someone told us that a mortgage company only has one year to redeem. Is this correct?
[ Edited by Taxivestor on Date 06/12/2008 ]
I thought Alabama was 3 years. They will redeem.