Tax Liens and Residential Leases

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Posted by Bill Young on May 22, 2001 at 13:08:15:

John, or anyone that knows. Do you know of any person or company that will make loans with Tax Liens as collateral? As you know, the liens are backed by the local county government and they are short term, 6 months to 2 years. If the person does not pay off the lien, the county gives you the right to take the property, free and clear of all liens and mortgages. They are a pretty safe bet.

The residential liens I am talking about are 3 year leases on lease purchase deals. The payors have made non-refundable deposits as well as funded contingency funds with 2-3 months advance payments. They will purchase the homes at the end of the 3 years. We would be looking to sell 1-2 or 3 years of payments. Security would be UCC-1's on the leases as well as collateral assignment of our beneficial interest in the property which entitles us to the cash flow, the passive tax write off from the property and the balloon payment of 15-45,000 at the end of the lease period.

Any ideas?
Bill

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