No Moratorium for D.C. Tax Foreclosures

While politicians all over the country are busy demanding a moratorium on foreclosures while affidavits and procedures are evaluated, there will be no moratorium for residents of Washington, D.C. who have failed to pay their property taxes[1]. Just two weeks ago, D.C.’s auction resulted in the collection of more than $11.2 million in tax revenue and tax lien investors began the process of trying to redeem their liens or foreclose on the property, which, in Washington, can take two to three years in some cases. In the most recent auction, 66 bidders participated and won their bids. Washington, D.C. uses a tax lien certificate process and requires a foreclosure before the bidder can take possession of the property.

Do you invest in D.C.? Are you concerned that foreclosure moratoria could impact your tax lien investing?

Thank you for reading! Your comments and questions are welcomed below.

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[1] http://www.washingtonpost.com/wp-dyn/content/article/2010/10/13/AR2010101308237.html