PROSOURCE  FOUNDATION QUIZ

What is a tax lien certificate?

What is the definition of the redemption period?

How long is the redemption period in Florida?

The tax lien certificate holder can foreclose on the property during the redemption period.

What is the state-mandated interest rate in Florida?

What is the state-mandated interest rate in Arizona?

What is the state-mandated interest rate in Texas?

Which of the following are auction bidding methods used by counties?

What is the face value?

What is the redemptive value?

The county calculates interest earned based on what value?

Select all payments types typically accepted when purchasing tax lien certificates.

The county has the right to adjust the state-mandated interest rate at will.

Why would an interest rate be lower than the state-mandated interest rate?

When tax lien certificates are sold at the auction, which party is responsible for the majority of tax lien certificate purchases?

If the property owner files bankruptcy, the tax lien certificate is always wiped out.

What is required of the tax lien certificate holder at the time of filing TDA (tax deed application)?

The interest earned on a tax lien certificate typically accrues in which of the following methods?

ProSource teaches advanced investors how to use tax liens to compound interest

Select all answers that are illegal when purchasing at a public auction according to the Sherman Antitrust Act.

What are the two foreclosure classifications that apply to tax lien certificates?

What is Administrative Foreclosure?

What is Judicial Foreclosure?

How long is the life of a tax lien certificate in Florida?

There is no possible way to extend the life of a tax lien certificate in Florida.

If possible, how does a tax lien certificate owner extend the life of a tax lien certificate in Florida?

After filing TDA (tax deed application), the tax deed is immediately issued to the tax lien certificate holder who filed TDA.

When the county holds a tax deed sale, to attempt to auction a property after TDA (tax deed application) is filed, where does the bidding start?

When a member buys a tax lien certificate directly through ProSource what does the member receive?

When a member purchases a direct-buy certificate through ProSource, ProSource DOES NOT transfer ownership of the tax lien certificates.

When a member purchases a tax lien certificate through ProSource what documents does the county require from the member to receive ownership of the tax lien certificate?

The ProSource administration and servicing team will help the members complete all county required documents, and submit them to the county.

How long does the county typically take to transfer ownership of tax lien certificates?

Select all data that someone could use to evaluate a tax lien certificate. 

The assessed value is always the value that an investor should expect to sell the property for.

 I should perform due diligence to make sure I'm comfortable with my investments.