[fso301]

If you read the article, I think you will agree, this business in DC is unscrupulous at best and criminal at worst. a house being sold by the government to a lien company for $287 to pay the tax bill and then being sold by the lien company for $129,000 2 months later. There’s criminal activity occurring there.

That criminal and unscrupulous activity plays a significant role in Democratic strongholds is a given. From what I know about tax auctions in other states, I'm not sure how these tax companies manage to bloat the DC property owner's bill with additional fees?

As I previously wrote about in other states, if a property owner for whatever reason fails to pay a $145 dollar property tax bill, the bill is typically put up for auction and investors bid on who will pay the bill and charge the least interest. If the second year the property owner fails to pay the property tax bill, has not paid the investor for the previous year's bill and the same investor purchases the tax lien the second year in a row, that investor is entitled to foreclose on the property.

Sometimes the properties are little more than crack houses and vacant landlocked wetlands. Occasionally, decent properties come available.

[Knuckledragger]

What a shame.

In Detroit, ~50% of the homeowners just ignore their property tax bills altogether. Ignore it three years in a row, and they’re supposed to take your house. But they don’t.

http://www.detroitnews.com/article/20130221/METRO01/302210375