foreclosure and leins - Posted by melissa

Posted by Bill H on February 03, 2005 at 20:36:28:

From your post I preseume you mean real estate taxes. If this is the case they will survive the foreclosure.

If you are speaking of and IRS tax lien, they have an automatice 120 right of redemption. During this period of time they will examine the property, determine if there is enough equity and offer it for sale on their site if they are interested.

Otherwise after 120 days the lien is removed from the property…however…it follows you whereever you go in the good old USA…it does not go away until it is taken care of.

As a general rule, all other liens are cleared from the title of the property in the foreclosure.

Good Luck,
Bill H

foreclosure and leins - Posted by melissa

Posted by melissa on February 03, 2005 at 12:11:23:

if my property is foreclosed on what happens to the leins that have been put on them for taxes. The mortgage company has started foreclosure proceedings but there are tax leins on the property. What happens?