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What is redemption penalty?

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4:08 am
April 14, 2009

mikeyD

Guest

Hi, I just want to know what does “redemption penalty” mean. Thank you for your help.

4:29 am
April 14, 2009

jozzy111

Member

posts 131

In some states the owner pays not only his taxes + the interest rate, but also a redemption penalty. This is not calculated annually and can vary according to the amount of the lien.

4:31 am
April 14, 2009

Josh

Member

posts 158

To help you understand – in New Jersey the redemption penalty is calculated as follows:
2% for liens from $200.00 to $4999.99
4% for liens from $5000.00 to $9999.99
6% for liens over $10,000.00

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About the Tax Lien Investing | National Organization of Tax Lien Investors forum

Most Users Ever Online:

Currently Online:

6 Guests

Forum Stats:

Groups: 2

Forums: 6

Topics: 420

Posts: 1028

Membership:

There are 1978 Members

There have been 350 Guests

There are 2 Admins

There are 0 Moderators

Top Posters:

DragonDust – 172

Josh – 158

S_Johnson – 133

jozzy111 – 131

sniper – 7

mshatty – 1

Administrators: admin (18 Posts), banner (0 Posts)