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by Spooky23 2018 days ago
I just don’t see this happening. Maybe I live in a different place.

Who are these people inheriting land who are too poor to use it, too dumb to sell it and losing it to the county?

I live in a high tax state and have served on nonprofit boards that have exposure to housing issues. This didn’t happen.

The common problems of this ilk were usually frauds where caregivers, relatives, powers of attorney or others squander or steal proceeds of reverse mortgages or borrow money against property without telling the family. The other issue that would come up is Medicaid recapture when money is given away.

Usually if there is a tax sale there is some bigger story why the property is worthless. You can borrow against the equity of anything.

1 comments

It happens outside of your bubble. It's not about being dumb. It's about having a certain way of life that values frugality and simple living. But you need land to live on. Go tell the Amish to sell their land and move into a condo because it makes more financial sense.