Elijahfell

For the person who is buying one property, I would rather see them play the lottery. The only people that make money on it are people that do it as a business.

Personally I’d recommended that anyone thinking about getting into tax lien certificate investment should discuss the matter with an attorney first to understand the ramifications and possible pitfalls.

Iowa Rep. Minnette Doderer, lowa City, believes legislators may have erred when interest rates were increased to 2 percent a month. I think the rate is way too high at 24 percent a year. It’s way over the cursory rate. We’ve created a business (for investors), but I don’t know that that’s the type of business we meant to create.

One problem with the higher interest rates involves homeowners who fail to pay their taxes on time for good reasons. There are some people who can’t pay their taxes and they lose their property. When they have to pay 24 percent interest they can never catch up.