Got Tax lein on home..what does this mean?

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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

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Comments:




: : 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








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