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Investing/Strategies / Tax Lien Certificates
|Subject: Re: Tax liens as collateral||Date: 11/13/2007 11:24 AM|
|Author: DrTarr||Number: 50 of 52|
What happened, is this board dead? What about my Ute brother - Lucky are you out there????
Over a month and no answer?
To start with you did not specify where you wanted to use thes as collateral. Meaning at some private money firm or at a financial institution? But,
Well lets see - Number two is right out. You will not get a loan on a tax lien for 60% of the value of the property. From either a bank or any kind of reputable money source..!
So it is between 1 and 3, and my answer is it depends on your relationship with the banker. Can it be done, yes! But the bank will probably ask for a track record, a personal guarantee, that sort of stuff. You may actually read the OCC circular posted earlier. Good read and gives you a take on the bank perspective. Although as a bank examiner I never saw the institution actual hold the lien.
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