Got Tax lein on home..what does this mean?
Posted by Bill H on July 19, 2003 at 16:04:41:
In Reply to: Re: Got Tax lein on home..what does this mean? posted by Aly on July 18, 2003 at 23:41:26:
: by the way, im in texas.
Aly:
Basically in Texas you have two possible redemption periods...6 months or 24 months depending on what type property and if you have a homestead filed.
Your house will go up for sale at a tax deed auction, probably your lender will redeem and start foreclosure before the sale though.
If it is sold at the tax auction, you have either 6 months or 24 months to redeem at costs plus 25 percent interest for first year and 50 percent for 2nd year.
My suggestion....get the $$$ and pay it off NOW!
Good Luck,
Bill H
