The first thing that you need to do to ensure that your tax lien
is profitable is to record your tax lien certificate with the County.
Your tax lien certificate must be recorded in the county records, or it
is worthless. In some states this is done for you and you pay a
recording fee when you purchase your lien. In most states, including New
Jersey, this is something that you will be responsible for and I
suggest that you do it right away, as soon as you receive the tax lien
certificate. With Tax Lien Manager you can print out a letter to send to
the county clerk with your tax lien certificate(s).
In the Lien
Menu, select Current Liens and click on the Payments tab and the County
Filing Letter button. You can use the drop down menus to include all of
your tax liens for that county. You can keep track of the filing fees
that you pay and print out affidavits to the tax collectors. You even
have 2 different affidavit letters to choose from. Tax Lien Manager will
even print the envelopes for you.
The next thing that you want to
do to maximize your profit in a tax lien certificate is to pay the
subsequent taxes on time. Tax Lien Manager can help you do this by
letting you know when you can pay quarterly taxes. You'll see the
reminders for quarterly taxes on the calendar. Tax Lien Manager also
provides you with a letter to the tax collector requesting the amount of
subsequent taxes due. You can print this letter and either mail it or
fax it to the tax collector. When you mail in your payment for
subsequent taxes, include an affidavit printed out from Tax Lien Manager
with your payment. All of these tasks can be done from the Payments Tab
in the lien property information screen of Tax Lien Manager.
The
third step in maximizing your profit keeping track of when the
redemption period is over for your tax lien(s). Tax Lien Manager will
tell you when the redemption period is over for each of your liens.
You'll see the reminders on the calendar. Then you can decide if you
want to continue to pay subsequent taxes and hold the lien longer, start
the foreclosure process, or sell your lien to another investor.
With
Tax Lien Manager you can print a request for a title search and mail or
fax it into your title company. Just put the contact information for
your title company into Tax Lien Manager by clicking on the Title Search
Company button in the Table Maintenance Menu. Your request for a title
search will then be atomically populated with your information and your
title company's information. You can even choose between several title
search companies. You can also print a pre-foreclosure letter with tax
lien manager. If you decide to assign your lien to another investor or
if your lien redeems, Tax Lien Manager can tell you the redemption
amount of your lien. You can use this to set a price for your lien or to
compare with the redemption amount that the tax collector gives you.
All
of these tasks are done from the Acquisition/Redemption/Foreclosure tab
in the Lien Property Information Screen. To access this screen from the
Main Menu click on Liens and from the Lien Menu choose which group of
liens you want to look at. Then you can choose individual liens in that
group. Put your cursor on the lien that you want to change or view and
click on the Change or View button. Now you are in the Lien Property
Information Screen. The Acquisition/Redemption/Foreclosure tab lets you
track redemptions, title searches and the foreclosure process. You can
track bankruptcies and DEP issues with the with the Bankruptcy/DEP issue
tab.
Joanne Musa works with investors who want to reap the rewards of
tax lien and tax deed investing. She is the author of the Tax Lien
Lady’s E-books, Tax Lien Investing Secrets and Tax Lien Lady’s State
Guide to Tax Lien and Tax Deed Investing.To receive your awesome Tax Lien Investing Kit, that has helped thousands of investors,
just like you learn how to build their own profitable portfolio of tax
lien certificates or tax deeds go to http://bit.ly/14x4th9
Article Source:
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