The economic downturn and spiraling health care costs have contributed to an increase in home foreclosures in recent years. Foreclosures occur not only when a homeowner fails to pay their mortgage, but a tax foreclosure can result as well when the homeowner fails to pay personal and/or property taxes on their home. When a homeowner defaults on their taxes the government can record a tax lien and get a court order to foreclose on the home. Then the Internal Revenue Service or other government entity can sell the property at an auction to pay for the outstanding taxes. Read the rest of this entry »