FEDERAL IRS Lien. & Short Sale - Posted by Neil

Real Estate Investing Real Estate Law
1

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:

  1. The homeowner already filed BK on the IRS Lien which removed him from personal obligation, but it’s still attached to the house.
  2. The IRS lien is 12 years old!
  3. The property is in Kentucky.