For many who owe anyone $14, should they qualify just take a good $100 expenses out of your handbag and keep personal installment loans Augusta KS maintaining the change? Obviously perhaps not. Yet , for the a dozen states and state’s funding, government entities gathers outstanding a residential property taxes by doing this.

Bring, such as, 93-year-dated Geraldine Tyler. Whenever she failed to pay everything $dos,three hundred within the assets taxation on the previous Minneapolis condo, Hennepin State foreclosed and you may offered the home to have $forty,000. In place of reimburse Ms. Tyler the $25,000 remaining after paying the her outstanding fees, charges, focus and relevant will cost you, the federal government kept all the penny.

He had been unable to rating financing together with condition treasurer deeded their the home of new investor, making Mr

The same occurred so you can Kevin Fair for the Nebraska after he decrease trailing towards the his possessions taxes as he end his employment to look after his passing away wife, Terry. Inside the Mr. Fair’s case, Scotts Bluff Condition offered his property income tax obligations so you’re able to a private team, Continental Tips, hence welcome the fresh trader to gather Mr. Fair’s taxes as well as can cost you and you will fourteen percent attention. [Read more…]