Posted by Neil on August 18, 2009 at 10:11:38:
I have a house with a federal tax lien on it i am trying to help short sale.
The first mortgage is owed what the house is worth, 400k. The IRS lien is another 400k. However, we have a contract to purchase for 400k on a short, total, which leaves nothing for the IRS lien.
Does anyone have any tips or tricks on getting a federal IRS lien to take a short or release completely?
Other info that will help:
- The homeowner already filed BK on the IRS Lien which removed him from personal obligation, but it’s still attached to the house.
- The IRS lien is 12 years old!
- The property is in Kentucky.