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irs liens: Don't Let IRS Tax Liens Stop Your Short Sale - 01/21/09 01:11 PM
 
Do you have an IRS Tax Lien on the property you are trying to sell?  Is your property's market value less than your mortgage payoff?  If so, you are in a short sale situation, and a federal tax lien may cause your lender to deny your sale.  Why?  If, for example, your home is worth $200,000, your mortgage payoff is $250,000 and your tax lien is $20,000, there would not be enough funds to pay the IRS.  Your mortgage holder will not pay these taxes for you.  The good news is that the IRS is trying to make it easier for … (16 comments)

irs liens: Short Sales: Undisclosed Liens Will Ruin Your Sale - 01/05/09 05:45 PM

Getting a Short Sale listing? It is always prudent to ask the seller the typical qualifying questions- "What is your hardship?", "Do your expenses exceed your income?" "Do you have cash funds to cover the deficiency?" But these preliminary inquiries may not be enough.  Here are some more probing questions you need to ask the Short Sale seller:
1. Are you "sure" you don't have a second mortgage on the property?  Or two? Even by an individual?
2. Who owns those mortgages?  Please provide your most recent statement.
3. Do you have an IRS tax lien on the property?
4. Do you have … (10 comments)

 
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Wendy Rulnick "Its Wendy!" Destin FL Short Sales

Destin, FL

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Rulnick Realty, Inc.

Address: 12889 Emerald Coast Pkwy West, Ste. 107-A, Destin, FL, 32550

Office Phone: (877) 487-9639 x 204

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