questions & answers

Question: A real estate agent in California has purchased a property tax lien on my home of 36 years, I still owe $16,500 on my Wells Fargo mortgage; the agent is planning to file for forclosure on 15/August/2013. How can I avoid lose of my home?, I do not have the $3,200 to pay the Mohave County taxes.

Answer: The following is provided for general information only. To find out how the law applies to a specific situation, contact an attorney directly. After a tax lien sale, the holder of the lien may foreclose on the property after the redemption period has ended. The redemption period is the period of time in which the outstanding amounts owed on the property may be paid in order to prevent foreclosure and invalidate the tax lien sale (ARS 42-18153). The failure to redeem will cause the owner to lose all legal or equitable right, title or interest in the property (ARS 42-18204). In Arizona, the redemption period is three years from the date of the tax lien sale (ARS 42-18152).