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    Amydefeo's Avatar
    Amydefeo Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 28, 2007, 09:02 AM
    Not Expert Advise
    Not expert advise
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 28, 2007, 09:13 AM
    Depends. The bank will be the primary lienholder. So if they foreclose and auction the house off, then the balance owed will go first to them. If there is any left, then it goes to the lien.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #3

    Nov 28, 2007, 09:16 AM
    Hello Amy:

    I don't know if the IRS get's theirs first or the bank. However, as far as YOU'RE concerned, it doesn't matter. If the IRS gets paid off and the bank doesn't, the bank will sue you. If the bank gets paid and the IRS doesn't, the lien will follow you until it DOES get paid.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Nov 28, 2007, 10:03 AM
    Quote Originally Posted by Amydefeo
    Not expert advise
    It appears you edited your original question to the above. I don't understand why. But the advice you have gotten was accurate. A mortgage holder has a first lien. I don't think even the IRS can supercede that. So the bank gets first crack at the proceeds from the sale.
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