Just outside Cleveland, every twelfth house stands empty, repossessed after its owner defaulted on a mortgage. Countless more homes post “For Sale” signs as the remaining owners try to leave to better areas. With so many houses vacant, the property tax base has crumbled. Since 2003, the local government has laid off 35% of its staff.

This is America’s housing crash. Some 5% of all mortgages are now delinquent and the share rises to almost 15% for “subprime” mortgages-those lent to people with shaky credit histories. In the second quarter of 2007, almost 3% of subprime loans entered foreclosure. RealtyTrac, a company that tracks foreclosures, projects 1.5m households will foreclose with mortgages resetting to higher rates before the end of 2008

Foreclosure is becoming costly and high rates of it can cause plenty of investment costs, taking in taxes, fees, penalties, charges and the lengthy process of repossession. An oversupply of properties then dampens prices. Nationally, house prices have fallen by some 3%, while the glut of unsold homes has risen to ten months’ supply.

States are now taking (and contemplating) immediate rescue ranging from a simple national foreclosure hotline offering free advice to loan renegotiation, explicit foreclosure rescue fund, mortgage refinancing and huge federal bailout. None is yet effecting good results. Most households and companies perceived foreclosure to remain the best option.

My property tax delinquent investment industry is less likely to end up such. Unfortunately, politicians overlooked my business model to be an option if studied further, Properties are quickly bought without the hassles of legal processes under my system. But my business is not buying mortgaged properties. Mine is buying rural lands with no mortgage.

America may nearly be receding because of the housing crash, but not to all. The crash is an opportunity for tax delinquent investors because it lowered property costs and expectations.

Jack Bosch began investing in land in 99. Along the way he discovered a secret way to buy land for pennies on the dollar and sell it for thousands. Jack continues to invest in property but now teaches his system! To claim a FREE Special Report about how you can buy Land for Pennies on the dollar go to http://www.LandForPenniesTeleworkshop.com & http://www.SecretLandProfits.com

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