Real estate blog entries tagged with federal tax lien by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.)

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federal tax lien: Don't Let IRS Tax Liens Stop Your Short Sale - 01/21/09 05:11 AM

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)

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