IRS Liens On Real Estate Forclosure
does the IRS lien on a real state property get wiped off if the property is foreclosed on by the lender?
I am asking this because I bought a property at a foreclosure and I found out that the IRS has a tax lien that I cant afford to pay, what will happen?
I am asking this because I bought a property at a foreclosure and I found out that the IRS has a tax lien that I cant afford to pay, what will happen?
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IRS liens are superior. Is is a good idea to do title work as part of the pre-foreclosure process.... You may be able to negotiate with the IRS regarding the lien. This is outside my knowledge area.
checkout http://en.wikipedia.org/wiki/Tax_lien and do some Googling.
If the foreclose the lien, they pay you off w/ interest.[ Edited by cjmazur on Date 01/05/2009 ]