Legal Question in Tax Law in New Jersey

In a tax sale, the City sells your bill (actually becomes a lien against the house like a mortgage) to a bidder. The bidder who buys your bill/lien can sit back and let the interest accrue until payment occurs, or can eventually sue you to foreclose the lien. If the bill plus accrued interest is not paid when he sues, the house can go to a Sheriff's sale. This is how many speculators acquire property at a steep discount. If you have a mortgage this also has to be paid at a sale, so this could make the sale more difficult. I also add that the bid for your bill is for an interest rate, which could go as high as 18%, so buying your bill/lien can be a very good investment, unless your house has no or little equity.