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Article: Private lenders profit from purchases of property-tax liens; Tax collectors put squeeze on homeowners ; Buying up city debts, private firms are quick to foreclose to make a profit
- Article from:
- International Herald Tribune
- Article date:
- August 19, 2009
- Author:
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Jack Healy
International Herald Tribune
08-19-2009
Private lenders profit from purchases of property-tax liens; Tax collectors put squeeze on homeowners ; Buying up city debts, private firms are quick to foreclose to make a profit
Byline: Jack Healy
Type: News
But housing advocates say the private companies may be exacerbating the foreclosure crisis, pushing out homeowners faster than would governments,
Hard times are causing more U.S. homeowners to fall behind on their property taxes. But in thousands of cases, they are responsible not to their local governments but to private companies that charge double-digit interest and thousands of dollars in service fees.
That is because in recent ...
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... ... prepared to approve a sale of county tax liens that will bring past-due taxes into ... outlined his proposal to sell property tax liens to investors, typically national banks ... expects to originally offer for sale tax liens on about 3,500 parcels with about ...
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