Does the John Beck’s Free and Clear Realestate system work?
Mr. Beck says you can buy Tax foreclosure property for pennies on the dollar. To me if the owner of a property owes taxes …that person most likely is in default of his mortgage as well.
Why would the bank that holds the note on the property let the home go …with the bidder only having to pay the back taxes free and clear of the outstanding mortgage debt?
Makes Little sense to me. Beck says these properties are free and clear….why would the mortgage company let it go? Any help is greatly appreciated.
This is a scam. Don’t waste your money on his course. If there is any value to the property over the unpaid taxes, there will be bidders at the tax sale.
No home with a mortgage will go to a tax sale if the mortgage is wiped out as it is in most states. The lenders are not that dumb.
February 22nd, 2010 at 9:36 am
You can learn all you need to know by going to http://www.ezinearticles.com and searching for tax sales, tax liens, property tax investing.
It should come as no surprise that once something have been offered on TV for over ten years your will have thousands of competitors.
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February 22nd, 2010 at 10:23 am
This is a scam. Don’t waste your money on his course. If there is any value to the property over the unpaid taxes, there will be bidders at the tax sale.
No home with a mortgage will go to a tax sale if the mortgage is wiped out as it is in most states. The lenders are not that dumb.
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February 22nd, 2010 at 11:00 am
no all it is, is basic real estate stuff buy low sell high
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