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.