![]() Borrowers took on liability over their limits and slowly buried themselves in debt.įederal and state liens usually come to the property from nonpayment of taxes and business debts. The crisis of 2008 through 2012 was caused by over lending and easy money. Excessive loans bury property in debt and ultimately crush the property and the investor with high monthly payments. The lender is looking for security for the loan when they lend.Įxtra mortgages create a burden for the borrower. The lender can look at it before they lend money. Lenders like real estate because it can be evaluated and appraised. Prior to working with tax liens and tax deeds, I worked in the foreclosure business, where I handled dozens of unique and stressful situations, mostly involving mortgage real estate.įrom 2008 to 2012, thousands of homeowners ended up at foreclosure auctions due to over lending. My expertise comes from doing deals and spending the last 30 years in the trenches working with tax liens and tax deeds. But first, I need to inform you, I am not an attorney, a broker, or a certified public accountant. I’m going to take a few minutes to give you the inside scoop and the answer. So are federal tax liens wiped out by foreclosure? Do IRS tax liens stay with the property on an auction? Property tax liens include federal liens, IRS liens, state liens, even judgment liens. What Happens After a Foreclosure Auction to an IRS Tax Lien?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |