Creating Wealth Without Risk quality
Banks that took bailout money were supposed to use part of the taxpayer-provided cash infusion to help customers avoid foreclosure, but instead, many of them are using the tax-payer money to pad their own pockets!
The U.S. Treasury Department has taken steps toward holding the mortgage servicers accountable by pledging to withhold bailout incentive payments to three of the largest banks – Wells Fargo, Bank of America, and JPMorgan Chase.
Banks, Wall Street Insiders, and Hedge Fund Managers don’t want you to know that they are using billions in tax-payer bailout money to capture these double digit profit rates where they receive 16%, 18%, 24%, up to 36% guaranteed by United States law.
Once you understand this powerful wealth secret you’ll be able to cut out the middle men (banks, hedge fund managers, wall street insiders) and capture these double digit profit rates just like they are.
They don’t want you to know this but for nearly 200 years they’ve been using your money to exploit this powerful investment strategy.
You see the bankers and Wall Street Insiders give you 1% to 3% with low-yield savings and CD’s. Then they turn around and use your money to capture double digit profit rates of 16%, 18%, 24%, up to 36% – guaranteed by United States law! They’ve also done their very best to keep this powerful investment to themselves.
What’s more, this strategy is virtually unknown to all except a small percentage of the world’s wealthiest investors. Which is why it has attracted the attention of some of the biggest banks and hedge funds in the country including Bank of America, JPMorgan Chase, and Fortress Investment Group.
In the conventional mortgage market, lenders typically insist that an escrow account be set up to cover the costs of real estate property taxes and mortgage insurance. However, the vast majority of subprime mortgage loans that were made before 2008 did not include an escrow account.
Some lenders and mortgage brokers used the lower monthly loan payment amount without escrow to lure consumers into believing that the loans were more affordable. Many homeowners wrongly assumed the new loan would also have an escrow account and did not know that they would be responsible for making tax payments directly to the local municipality.
As a result of the subprime mortgage meltdown, thousands of counties all across the United States have millions of dollars in outstanding property taxes. Communities rely on the revenue generated from property taxes to fund daily services.
If local governments are unable to collect real estate property taxes, they are also unable to fund important government services like police protection, public schooling, and emergency medical services.
Politicians find themselves in a difficult situation, raising property taxes isn’t popular and could mean losing an election. The failure to collect on these past-due debts weighs heavily on their already-overburdened budgets.
To solve this cash-flow problem, local governments allow investors to pay off a portion of these delinquent property taxes. In return, investors receive a tax lien certificate which is a claim for property taxes.
Currently, you can buy tax lien certificates in the following states and cities:
When you buy tax lien certificates you are helping cities and communities. The money you pay to purchase these tax lien certificates generates the much needed revenue cities and communities need to pay for essential services.
Investors buy tax lien certificates at delinquent property tax sale auctions. A tax lien certificate transfers all the rights that come with…
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