In some states, the government will seize homes with unpaid property taxes and then sell the properties at a tax deed sale, which is a public auction. The property at a tax deed sale
is usually sold for the amount due in unpaid taxes, plus fees and interest charges. It’s also known as a foreclosure auction.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.