What is a Tax Lien Certificate and How does the process work?

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A tax lien is a lien or encumbrance placed on real property for failure to pay taxes. A tax lien is a powerful lien that, in most jurisdictions, takes precedence over mortgage liens and mechanic's liens. In essence, a tax lien becomes first priority and, if the property is foreclosed, will eliminate a mortgage lien. Generally, Internal Revenue Service (IRS) liens and local government assessments will still remain and could become the investors responsibility. When this process is done, you are now able to purchase the property. This web site can help you get a listing of the available homes in the area.