Monday, September 23, 2013

Tax Auction Houses Owe Taxes Again

News from Wayne County.  Houses up for foreclosure auction get bought by investors who then do not pay the taxes.  The County treasurer really can't stop people from buying the houses, but it appears he is trying to do something about it when they immediately fall behind.

I am seriously thinking about bidding in the auction, so this matters.  Silly me would pay the taxes, though, which shows I may not be as sophisticated in these things as other investors.


http://www.detroitnews.com/article/20130923/METRO01/309160111/Most-properties-Wayne-foreclosure-auctions-repeat-cycle-unpaid-taxes?odyssey=tab|topnews|text|FRONTPAGE