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Federal Housing Administration (FHA) insures mortgages to enable people to buy homes, once people default to make payments, the sum insured by government is given to the lending institution and the property is attached to government and they try to sell it as quickly as possible because they had already invested in the insurance money given to the lending institution.
Non-payment of taxes is a common phenomenon due to recession and a lot of home owners are facing foreclosures due to this. Once government is unable to receive taxes on time they are bound to recover it through issuing tax liens and auction of property. The tax lien certificate issued by government are like a gold mine for investors as they can earn a very good rate of interest from home owners if the original home owners are interested to repurchase the tax lien certificate to save their property.
When the redemption period of tax lien certificate expires, the holder of certificate is transferred the title of property as he/she was a winning bidder of auction. So the investor basically has a win-win situation as he would profit even if the home owner comes and purchases back the tax lien certificate at a high interest rate of 18% or so or otherwise gets the title of property at a very small price.
Smart investors are always on the lookout for government tax foreclosures, but they do go and inspect the location and premises to see the condition of property whether it is worth the bargain. The best way to search for government tax foreclosure properties is to look out for updated listings on the internet. The bidding process is a little complicated so one needs to have a thorough knowledge of the process or take the help of some broker or expert.
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