Another Sad Story About Someone Losing Their House

I just found out about this yesterday. Another neighbor in the area has lost their home - not their house, not their property - but their home! It's always so sad to hear stories like this because I know that people in this area have lived in their houses for years! Unfortunately in this case the cost of the property taxes was the culprit! Mind you, the property taxes in this area are very high and what makes it worse is that there are 2 property tax bills that are due each year! Someone told me that in Philadelphia there is only one property tax bill.

The first property tax bill due in April is the smaller of the two. The second property tax bill is due in September and is more than twice the amount of the first bill! When the property taxes are paid as part of the mortgage bill that makes things a little bit easier but not everyone has that type of mortgage.

I do not know the particulars of this neighbor's situation so I don't know what their financial status was (or is) but I do know a little about this property tax thing. On the property tax bill itself it says that the property taxes have to be paid by the end of the year or their will be a lien put on the property. And of course if that lien isn't paid then the property can be sold for the property tax amount owed. Now here is where I get a little foggy.......Does that mean that whatever the house sells for the property tax bill is paid but what happens to the amount that the house sold for that is more than the tax bill itself? Does that extra amount go to the property owner or does it go to property tax people? Is the house being sold for its fair market value or for the amount of the property tax owed only?

I've seen a lot of ads and literature about how their are sales of properties for the amount of back taxes owed so does that mean that they are selling the properties for just the amount of the property taxes owed?

It may seem like a very good opportunity for the real estate investor but it is not a very pleasant experience for the people that are losing their homes.

By the way from what I have heard the people that lost their home are temporarily living in a house a few blocks away. As a matter of fact from what I have been told their property has already been sold!