Tax-lien auction may be lucrative

This year's Maricopa County property-tax-lien auction is shaping up to be the biggest ever and potentially more lucrative for investors than others in recent years. It's a prime example of how misery so often rubs elbows with opportunity in the Phoenix-area real-estate market. Rampant home foreclosure and plummeting property values caused a dramatic spike in unpaid property taxes during the 2008 tax year. On Feb. 8, those unpaid taxes will be sold to investors hoping to earn interest on them until the property owners pay up.

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