Tax Lien Sales Online

Tax lien auctions create Excess Funds – that you can get for yourself!These Proceeds comes from foreclosures.These foreclosure sales can come from a substitute trustee foreclosure, a foreclosure from a home owner assoc, or a result of a county tax auction. If someone goes to foreclosure on real estate, they are collecting on a debt secured by the property, and are making a person or entity to sell their jproperty to pay that amount owed.The problem that occurs for the bank is that the home can get more than the debt that needs to get paid. For instance, say a bank forecloses on Joe Smith because he is way behind on his payment. Let’s say he has a mortgage for $200 Grandtwo hundred thousand dollars} to the mortgage company and that his home sells as a result of a foreclosure for two hundred and fifty thousand dollars. Where does the $ end up?The mortgage company – or usually the substitute trustee for the mortgage co – pays out the debt owed on the real estate, with the tax folks – meaning any unpaid property taxes get paid before others in line. After that the bank has a right to what’s left. But, the bank can’t keep any overage. Assume there were $5K in lawyer costs due to the foreclosure sale, &) there were still owed taxes to be paid to the tune of five thousand dollars.What we have is:$250K sales price-Five thousand $ taken out to pay the municipality for taxes owed.-Five thousand $ paid to the law firm running the foreclosure sale.-$200,000 paid out to the bank.There now surplus of forty thousand dollars.Who gets that?Good question:, in a perfect world, surplus funds is due to the person who was foreclosed on. Here’s the problem – the municipality where the foreclosure was filed does not have the timed needed, skills, nor staff to track down the owner of those funds. Also the mortgage company doesn’t have a reason to track down person owed either – their only focus is to prove that they don’t keep any overage from the foreclosure sale. As a result the surplus goes into an earnest $ account, referenced to the file residing in the county clerk’s files. There it will remain for a long time:for up to a decade, before it is transferred to the states escrow coffer.Listen Up! During the time the cash is deposited in an escrow account for the municipality and then for the state, it is make interest. The county and then the State can claim that interest due to the fact that they’re keeping it for the past owner. At this point the obvious question that hits people is–Does the person due can just call the State or hit the internet and claim the funds from the state – or from the county if its been a short time – Right?No sir. Most times the cash is out of the rightful owner’s name at the point where it becomes a part of the states escrow acct. Its found by a case number that references the foreclosure case file in the municipalitys courthouse. So inquiries directed to the state commonly go unanswered or hit a dead end due to the fact that the cash is not in the name of the person due.Then What you just drive to the clerks office, find the case file, & show youre id, correct? Too Easy.. First, identifying the file has it’s own unqique prob’s, becaues the records aren’t called, ‘woohoo – look here records’. In the rare event you miraculously get to the storage place of the records, you have to look through the files (one at a time to ascertain which of the files thatwhich actually have surplus funds in them. But, once you identify one such file, you can locate much more using a easy method.Now Assume you locate the records, and see big amounts of dough for the rightful owners. Can you pull out that cash?Not without a special form. At this writing, many States don’t let you get over a tiny slice of the money when you identify it, specially if you attempt to make a deal with the person owed for identifiying the surplus. They often call these folks as ‘finders’, and limit their commission to 10-15%, and some States also require a Private Investigator’s license to be allowed. Then is the chance gone at this pt?Nope. BUT you can get those surplus in your name, regardless:nevermind the person who should have it implementing a program called the ‘Gold Mine’ – go get it at http://www.surplusfundsriches.comThere are 2 additional considerations here…1. It doesn’t make any difference how long the surplus has been in the earnest money acct. There is overage dating back 40 years plus yrs – so it doesnt make any difference if property values have lately dropped- pull cash from files that came about when the real estate market was on the rise.2. The System also can be used for tax auctions.Tax lien sales are just foreclosures that are due togovernment going after:attempting to collect taxes due on a home and are foreclosing to get that debt. The differences in tax auctions are:1. There is a chance for a much larger cash amount. chew on that. Unpaid taxes of $20K on a home that has other debt and sells for 300 grand. Yes ma’am!2. There might be a ‘redemption period’ of a (few years where you are required to sell the home back to the ex-owneryour buy price plus improvements. You could lease the house, put a small amount of update money into it, and make that $ back, betting the owner does not come back in the middle of the redemption time. That works cuz you will recoup what you have in it, if the owner does come back, and return the rent. However, the Gold Mine Program teaches you a much better way to benefit from sales from a tax auction. You will literally, using the ebook, let the home to be auctioned at a tax auction, and then claim the surplus funds due to the rightful owner Yourself! Seriously! We trust this program cuz we designed it. Its available at http://www.surplusfundsriches.com