Q: If property taxes were not paid and subsequently sold at tax sale, the tax lien holder pays the future taxes for 2 years
and then files for foreclosure, what happens when the property owner receives an "order setting date, time, place and amount of redemption" notice from the attorney representing the tax lien holder? Is that date really the last date the property owner can pay to redeem the property? Is that notice the "final judgement"? Or is final judgement entered at some later date, allowing the property owner to still redeem the property up until that later date? Property is in Camden County, NJ and has no mortgage. Also, if the 35 days given for the property owner to answer the foreclosure complaint has already passed, is there anything that can be done to try to avoid foreclosure and/or get more time to come up with the money to redeem?
A: When the judge signs the order the property is legally the tax lien holders.
Declaring bankruptcy can extend the time to get the money to pay of the tax lien.
It may be easier to get a hard money lenders to loan the money, and probably have a lower interest rate than the 18% that is being tacked up on the tax lien.
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