Upcoming Foreclosures

do government tax foreclosure sales put people out of their homes?

these houses are sold off on such low prices because somebody couldnt pay their higher interest right? well... that puts them out of their house by force doesnt it?

Public Comments

1. Tax foreclosure sales have nothing to do with the interest rates -- the houses are being sold because the owners didn't pay their taxes. If they can't pay their mortgage because of high interest rates, that would be a bank foreclosure, not a tax foreclosure.
2. Government tax sales are a result of people not paying their property tax (unless it is an IRS tax situation). When that happens the county/city puts either 1) the property, or 2) the right to collect on the taxes, up for auction. Whether it's #1 or #2 depends on the state and the local municipality. In either case, the property owner can lose their house to foreclosure and be evicted once ownership transfers to the foreclosing party. This process of tax foreclosure is distinct and separate from a mortgage foreclosure resulting from someone not paying "their higher interest".
3. Oh course not, no one forced anyone to pocket the mortgage money! These people all willingly refused to repay money that they borrowed. To be low lifes is a choice they made, no one made it for them.