NEW YORK (CNNMoney) -- People are losing their homes over unpaid tax
bills that, in some cases, add up to just a few hundred dollars.
Outdated state laws that allow local governments to sell tax liens on delinquent properties
to investors in order to more quickly collect on overdue property taxes
is sparking a second "foreclosure crisis," a report from the National
Consumer Law Center said Tuesday.
When homeowners don't pay property taxes or other municipal bills, like
water or sewer fees, local governments have less money to maintain
services like schools, police and fire departments and road maintenance.
By selling tax liens, those governments can collect on what it is owed.
READ MORE: http://money.cnn.com/2012/07/10/real_estate/tax-liens/index.htm
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