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More Thoughts About the Foreclosure Crisis from Saen Higgins, President of Wealth Without Risk |
| Date Added: June 03, 2011 07:07:51 AM |
| Author: Saen Higgins |
| Category: Business & Economy: Taxes |
| In an earlier article on the status of the US foreclosure crisis, Saen Higgins, Founder of Wealth Without Risk, talked about the states that have been hit hardest, like Nevada, Florida, Arizona, California and Idaho. Higgins pointed out that the most sweeping tax cuts in 20 years were due to expire soon. Economic “bad news” was beginning to have an impact as a growing number of Democrats began breaking rank and calling for at least a temporary extension for all tax payers.Several months later, we’re starting to see a trend down in foreclosures, though historically, the numbers are still quite high. Leading real estate advisors are speculating that we’ll soon see a second wave of properties enter the market. “We’d like to say that people are getting back on their feet and so the foreclosure rate has dropped. But it’s more likely that the number of people losing their homes isn’t because people are recovering financially, but because banks are simply taking longer to process the notice of default,” stated Higgins, adding “and the banks are modifying loans either.”According to DataQuick Information Systems, notices of default have gone down for seventeen straight months, and foreclosures rates have decreased for seven months in a row. Unfortunately, Higgins and other financial advisors still believe that we’ll see a rise in these numbers again in the not-so-distant future. When asked what we should be doing to protect ourselves, and our future financial health, Higgins commented, “We all make investments with the future in mind. But none of us can truly predict what the future will look like. So it’s important to find those investments that are guaranteed and not affected by the stock market, the job market or the housing situation.” He adds, “Tax lien certificates remain the most risk free investment with the highest rate of return.”When a homeowner isn’t able to pay their property taxes, the county issues a tax lien certificate. Investors can purchase those certificates direct from the county government. This allows the county to collect on fees owed to them now, and also extends the amount of time the homeowner has to raise the money needed. In most counties penalties added to a delinquent tax bill are between 16 and 24%. That money is guaranteed back to the investor, making this a risk free and highly lucrative investment. It doesn’t cost a lot to get started in tax lien certificate investment business, and most of the work can be done on line. You can sign up to receive more information on investing in tax lien certificates with Saen Higgins and his tax lien team by visiting www.saenhiggins.com. |
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