All About Tax Lien Foreclosures:
FAQ
Can an individual investor purchase a
tax lien directly from the City of NY?
No.
How long after a property owner fails to
pay their property taxes can a tax lien foreclosure proceeding be initiated?
Approximately 2-4 years, depending on the class of property.
Are tax lien foreclosure auctions conducted
like mortgage foreclosure auctions?
Yes.What
do you mean by “superior lien?”
When a tax lien foreclosure auction takes place, the tax lien holds the
superior or first position, thereby eliminating any other liens and mortgages,
with the exception of subsequent taxes and certain federal liens.
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