The Next Big Real Estate Boom: Cashing in on Delinquent Taxes
BALTIMORE, Nov. 6 /PRNewswire/ -- As U.S. home prices free-fall, a new big boom for real estate investors has started taking place in delinquent property taxes.
The real estate triple play of shrinking home prices, negative equity and increasing foreclosures are all contributing to an epidemic in delinquent property taxes. This current downturn in residential real estate puts homeowners at the greatest risk since perhaps the 1970s in failing to pay their taxes.
For governments, delinquent property taxes create a budget shortfall for essential services such as police, education and sanitation. To keep the coffers full, states offer "secret certificate" programs that let individual investors make money from delinquent property taxes.
These "secret certificate" programs can deliver returns of 24% and more.
posted by Florida Real Estate at
11:13 PM
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