What if the owner does not pay within the redemption period?
The lien holder can now foreclose on the lien. There are various ways in which this can occur based on the area the lien was purchased. but in most cases, if the owner doesn’t pay up, the property now becomes yours free and clear. If you purchased the lien in an area where this is not the case, the property is still foreclosed on and sold at an auction, and your investment will be paid back same as if the owner had redeemed, you may even earn a higher penalty rate.
Related Questions
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