Updated almost 10 years ago on . Most recent reply
LA tax Lien props
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In Louisiana it is bid down on the percentage of ownership when you are bidding on a tax lien. The sales are annually and their taxes are considered delinquent by December 31 of every year. The 1% bid will usually be the best bid if you can keep it at that. The redemption period is three years and you have to pay the subsequent taxes. The interest rate is 1% a month plus a 5% penalty. Each month you do not have a redemption you get an additional 1% on top of the 5% penalty. So at the end of 3 years you would earn 41% on the tax lien. If you go for foreclosure then you will need a lawyer to work with you as it is a judicial foreclosure. Some of the online auctions are held on civicsource.com